Why Indie Semiconductor Stock Is Falling Today
The stock of Indie Semiconductor (NASDAQ: INDI) is losing ground today following the publication of the company's second-quarter results. The share price was down 8.3% as of 1 p.m. ET on Friday, according to data from S&P Global Market Intelligence.
Indie Semiconductor released its second-quarter report after the market closed Thursday, posting sales and earnings for the period that actually beat the market's expectations. The company recorded a loss of $0.09 per share on revenue of $52.1 million, while the average analyst estimate had called for a per-share loss of $0.20 on sales of $52 million.
Despite the top-line and bottom-line beats, it looks like management's guidance is causing investors to lose confidence in the stock.
Source Fool.com
