Credo Technology Shares Plunge 18% Despite Strong Q1 Results

India, Sept. 2 -- Credo Technology Group Holding Ltd. (CRDO) shares are plunging 18% despite the company reporting strong first-quarter results.

The stock is currently trading at $169.19, down $37.44 or 18.12%, on the Nasdaq. It opened at $188.63 after closing the previous session at $206.63. The stock has traded between $86.49 and $308.67 over the past 52 weeks.

Credo reported first-quarter revenue of $479.0 million, up 114.7% year over year, while net income rose to $129.4 million, or $0.67 per share, from $63.4 million, or $0.34 per share, a year earlier.

For comments and feedback contact: [e-mail]

Published by HT Digital Content Services with permission from RTT News....