Why indie Semiconductor Stock Popped Today

indie Semiconductor, Inc. INDI shares are trading higher after the company said it expects third-quarter revenue to be over $60 million.
 

What To Know: Indie Semiconductor provided preliminary third-quarter revenue outlook on Monday. The company stated that revenue is expected to be above $60 million, slightly better than the company's guidance and consensus estimates. The company also set Nov. 9 as the date for its earnings release and conference call.

The news caused shares of the stock to trade higher by over 20% on Monday, a break in the recent downward trend of the stock.

Related Link: Goldman Sachs Is Bearish On Intel Ahead of Q3 - Here's Why

INDI Price Action: Shares of INDI were up 18.6% at $5.78 at the time of publication, according to Benzinga Pro.

Image by Dan Williams from Pixabay

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!