Credo Technology Hits Day Low of $110.68 Amid Price Pressure

Credo Technology Group Holding has experienced a significant decline today, with the stock dropping by 7.27%. The stock reached an intraday low of USD 110.68, reflecting a challenging day in the market. Over the past week, the stock has seen a decrease of 12.38%, and its performance over the past month shows a decline of 10.58%. Despite these recent downturns, Credo Technology has demonstrated strong performance over the past year, with an impressive increase of 86.78%, significantly outperforming the S&P 500, which rose by 12.95% during the same period. The company has reported consistent positive results for five consecutive quarters, with a notable net profit growth of 30.34% as of October 25. Credo's financial metrics indicate a robust operational foundation, highlighted by a record operating cash flow of USD 177.86 million and a return on capital employed (ROCE) of 22.87%. The company maintains a high institutional ownership of 83.5%, suggesting confidence in its long-term prospects. As a mid-cap player in the Computers - Software & Consulting industry, Credo Technology continues to navigate a dynamic market landscape.