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.

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