Financial PerformanceINDI’s shares significantly underperforming its peers, down 56% just since its recent July highs, and its stock being particularly weak over the past two weeks since earnings.
Industry TrendsThere is an assumption of a more muted industry-wide recovery due to downsized production numbers at many automakers and a shift from premium to economy vehicles.
Revenue ForecastIt is prudent to lower the forecast estimate for indie’s December quarter revenue and loss per share due to negative news from the automotive supply chain.