Why Credo Technology Group Holding Ltd. (CRDO) Is Skyrocketing Today?

We recently published a list of 10 Stocks Skyrocketing Today. In this article, we are going to take a look at where Credo Technology Group Holding Ltd. (NASDAQ:CRDO) stands against other stocks that are skyrocketing today.

The stock market ended mixed on Wednesday, with the Dow Jones emerging as the sole decliner, as investors digested more news of tariff threats from President Donald Trump.

The Dow dropped by 0.20 percent, while the S&P 500 and Nasdaq clocked in gains of 0.49 percent and 1.22 percent, respectively.

Meanwhile, 10 companies, predominantly those riding the AI wave, were touted as investors’ haven, clocking in gains during a cautious trading session.

In this article, we have identified the 10 strongest firms on Wednesday and detailed the reasons behind their performance.

To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in trading volume.

Why Credo Technology Group Holding Ltd. (CRDO) Is Skyrocketing Today?

An engineer in a cleanroom testing and tweaking an integrated circuit.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)

Credo rallied for a second day on Wednesday, adding another 9.62 percent to finish at $47.53 each as funds continued to flock to safer assets such as Artificial Intelligence stocks to mitigate risks from the ongoing tensions between the United States and its trading partners.

Additionally, CRDO announced that it would participate in the upcoming NVIDIA GTC 2025 conference in California next week, where it is expected to showcase products aimed at supporting the growth of AI.

“[CRDO] will showcase its Toucan PCI Express (PCIe) Gen6.x/CXL3.x retimers in a full rack demo, highlighting their role in enabling scalable AI infrastructure. In addition, [CRDO]’s Associate Vice President of PCIe Product, Phil Kumin, will deliver a technical session on GPU disaggregation and PCIe scaling for AI workloads,” the company said.

Overall, CRDO ranks 7th on our list of stocks that are skyrocketing today. While we acknowledge the potential of CRDO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CRDO but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.