CRDO is trading 11.1% down at $268.86 as the stock pulls back from a steep AI-driven rally, coinciding with a broader selloff in technology shares. - The decline occurs despite positive company-specific news, including Evercore upgrading CRDO to a "strong-buy" rating and Bank of America raising its price target to $340.00 today. - This suggests profit-taking and positioning shifts in the broader tech market are driving the move, rather than negative company-specific catalysts.