Credo Technology (CRDO) Loses 8% Over Renewed US-Iran Tensions

Credo Technology Group Holding Ltd (NASDAQ:CRDO) is one of the 10 Stocks Investors Are Running Away From.

Credo Technology dropped its share prices by 8.11 percent on Monday to close at $236.88 apiece, as investors turned pessimistic anew amid the escalating tensions between the US and Iran.

Over the weekend, President Donald Trump announced the reinstatement of the Iranian blockade and later ordered the launch of strikes against Tehran after the latter struck two UAE tankers in Omani territorial waters, claiming the life of one crew member.

For illustration purposes only. Photo by Brett Sayles on Pexels

Trump, however, clarified that other countries’ ships and cargoes passing through the Strait will be safeguarded by the US, in exchange for a 20-percent reimbursement for the use of US military resources to patrol and secure the region.

Credo Technology Group Holding Ltd (NASDAQ:CRDO) declined alongside Wall Street’s three major indices, triggered by a combination of profit-taking and risk-mitigation activities.

In other news, the selloff can be partly attributed to its chief financial officer’s (CFO) disposition of $1.86 million worth of shares in the company in a series of transactions last Wednesday, July 8.

According to a regulatory filing, Credo Technology Group Holding Ltd (NASDAQ:CRDO) CFO Daniel Fleming sold 7,580 shares at prices ranging from $240.6083 to $249.6092 apiece.

The sales reported were effected pursuant to a trading plan adopted by Fleming on January 12, 2026.

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