CRDO is trading at $195.42 (-7.04%) today, tracking a broader market decline as macroeconomic headwinds and geopolitical risks pressure high-growth technology stocks.
- The NASDAQ fell 1.27% following a hotter-than-expected CPI print of 3.8% YoY and rising oil prices, which surged above $107/barrel.
- Geopolitical concerns involving the Strait of Hormuz and Iran are weighing on the semiconductor sector, reversing yesterday's 11.52% gain from a close of $210.22.
- There is no company-specific news explaining the move; the stock is currently moving in tandem with the broader tech sector pullback.