Why Is CREDO TECHNOLOGY GRO (CRDO) Stock Down Today?
By the Top Tier Newswire AI Desk · September 1, 2026 at 4:35 PM ET · reviewed against 12 wire stories
CREDO TECHNOLOGY GRO (CRDO) is down -8.65% in the latest session. Our newswire has captured 12 stories on CRDO across 7 sources in the last 36 hours, with AI sentiment reading mixed (avg 56/100).
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CRDO stock fell 8.65% to $196.80 on Monday, marking a sharp reversal despite the company reporting strong first-quarter results. The stock opened at $224.74 but quickly declined throughout the session, reaching a low of $188.00. The decline followed the release of Q1 earnings, which showed a 114.7% year-over-year revenue increase to $479 million and non-GAAP EPS of $1.20, both above expectations. However, the market reacted negatively, possibly due to concerns about valuation or broader economic factors.
What Happened
Credo Technology Group Holding Ltd (CRDO) reported Q1 fiscal 2027 results that exceeded expectations, with revenue of $479 million and non-GAAP EPS of $1.20. The company attributed the strong performance to increased demand for AI connectivity solutions. The SEC 8-K filing on September 1 detailed the results and included updated financial statements. Despite the positive earnings beat and strong Q2 guidance of $525 million to $535 million in revenue, the stock declined sharply. The Street and Barron’s highlighted the stock’s fall despite the positive numbers, while Seeking Alpha emphasized the beat and strong guidance. The Fly noted that options activity suggested a potential 10.3% move post-earnings, but the actual move was more severe.
What The Data Shows
The stock opened with a -0.6% gap from the prior close and traded as high as $224.74 at the open before falling to a session low of $188.00. Trading volume reached 5.9 million shares, 0.8 times the 3-month average. The stock has a market cap of $43.4 billion, a P/E of 90.1, and a beta of 3.23. It has gained 49% year-to-date but is currently trading 22% above its 200-day average. The 52-week range is $86.48 to $308.67, and the stock has printed three 52-week lows on September 1. Recent insider transactions show 21 sales totaling $136.4 million in the last 90 days, with no insider buys reported.
What To Watch
Credo Technology does not have an upcoming earnings date in the immediate future. Investors should monitor the broader market reaction to AI sector valuations and any additional guidance from the company. Coverage breadth and sentiment shifts in the coming days will also be important to track.
AI-assisted analysis composed exclusively from headlines and data on the Top Tier newswire. Public view is delayed 4 hours from real time. Not financial advice.
Credo Technology Group Holding Ltd (CRDO) files 8-K
Filed: 2026-09-01 AccNo: 0001628280-26-059795 Size: 323 KB Item 2.02: Results of Operations and Financial Condition Item 9.01: Financial Statements and Exhibits
11d agoSeeking AlphaBULLISH 68Earnings
Credo Technology Non-GAAP EPS of $1.20 beats by $0.03, revenue of $479M beats by $7.29M
Credo Technology (CRDO) Q1 earnings: EPS and revenue beat, strong FY2027 Q2 guidance with margins and opex outlook; see what it means for shares—read now.
11d agoStockTitanNEUTRAL 50General
Credo Technology Group Holding Ltd Reports First Quarter of Fiscal Year 2027 Financial Results
11d agoThe StreetBULLISH 56Earnings
Credo Technology Group Holding Ltd. Q1 2027 Earnings: Live Updates of $CRDO Earnings Call, Forecast
The fast-growing semiconductor name, up 49% year-to-date, faces its latest test after the market closes today.
11d agoThe FlyBULLISH 57Earnings
Credo Technology Group options imply 10.3% move in share price post-earnings
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