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 December 31, 2024, CRDO stock price declined to $67.21 with 2,491,179 million shares trading.

CRDO has a beta of 4.50, meaning it tends to be more sensitive to market movements. CRDO has a correlation of 0.40 to the broad based SPY ETF.

CRDO has a market cap of $11.16 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): IWM, VTI, VB, VGT, VXF.

CRDO has outperformed the market in the last year with a return of +245.2%, while the SPY ETF gained +24.8%. In the last 3 month period, CRDO beat the market returning +118.2%, while SPY returned +2.5%. However, in the most recent 2 weeks CRDO has underperformed the stock market by returning -3.8%, while SPY returned -2.7%.

CRDO support price is $66.11 and resistance is $73.09 (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.