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Why Indie Semiconductor Rallied Today


Shares of automotive semiconductor company Indie Semiconductor (NASDAQ: INDI) rallied on Monday, up 13.2% as of 3:11 p.m. ET.

The company, which makes a variety of automotive tech chips, might be considering a sale, according to Bloomberg. Obviously, when news of a potential sale comes out, that usually means investors will buy the stock hoping for a quick buyout at a premium, thus yielding a quick short-term gain.

On Monday, Bloomberg reported that Indie had hired advisors to consider strategic options for the company, including a potential sale. Bloomberg cited anonymous "people familiar with the matter." The publication was pretty vague, and said Indie could attract either private equity firms or another industry player as a buyer. Of note, this wasn't the first news of a potential takeover. Late April saw the first inklings of chatter around an Indie takeout, immediately after the stock fell to year-to-date lows.

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Source Fool.com

Nordic Semiconductor Stock

€11.93
0.210%
The Nordic Semiconductor stock is trending slightly upwards today, with an increase of €0.025 (0.210%) compared to yesterday's price.

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