CRDO Stock Summary and Trading Ideas (Credo Technology Group Holding - | NASDAQ:CRDO)

Credo Technology Group Holding Ltd delivers high-speed solutions to break bandwidth barriers on every wired connection in the data infrastructure market. It provides secure, high-speed connectivity solutions that deliver improved power and cost efficiency as data rates and corresponding bandwidth requirements increase exponentially throughout the data infrastructure market. It has a geographic presence in Hong Kong, the United States, Mainland China, Taiwan, and the Rest of the World.

Credo Technology Group Holding - trades on the NASDAQ stock market under the symbol CRDO.

As of January 17, 2025, CRDO stock price climbed to $80.02 with 5,895,435 million shares trading.

CRDO has a beta of 4.27, meaning it tends to be more sensitive to market movements. CRDO has a correlation of 0.37 to the broad based SPY ETF.

CRDO has a market cap of $13.28 billion. This is considered a Large Cap stock.

Last quarter Credo Technology Group Holding - reported $72 million in Revenue and $.07 earnings per share. This beat revenue expectation by $5 million and exceeded earnings estimates by $.02.

The top ETF exchange traded funds that CRDO belongs to (by Net Assets): VTI, IWM, VB, VGT, VXF.

CRDO has outperformed the market in the last year with a price return of +321.4% while the SPY ETF gained +27.3%. CRDO has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +116.3% and +12.8%, respectively, while the SPY returned +3.0% and +2.2%, respectively.

CRDO support price is $72.15 and resistance is $79.05 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CRDO shares will trade within this expected range on the day.