🔴 Credo Technology is trading 11% down today on hotter-than-expected CPI and rising geopolitical tensions

CRDO is trading at $188.10 (-10.52%) as high-growth tech stocks face pressure from macro headwinds and broader market weakness.

• The NASDAQ fell 1.63% following a hotter-than-expected CPI print of 3.8% YoY and rising oil prices driven by U.S.-Iran tensions.
• The decline follows an 11.52% gain in the previous session, with no company-specific news reported to account for the sharp intraday reversal.
• Shares are currently seeing deeper intraday selling than earlier reports indicated, tracking with the broader tech sector sell-off.