We recently published a list of 10 Stocks Drop The Most Amid Investor Caution. In this article, we are going to take a look at where Credo Technology Group Holding Ltd (NASDAQ:CRDO) stands against other stocks that drop the most amid investor caution.

Wall Street kicked off the first trading day of the week on a sour note, with all the major indices closing mixed as investors chose to stay on the sidelines while waiting for further updates on key economic news, including trade tariffs and government spending, among others.

The Dow Jones was the sole gainer among all major indices, eking out a 0.08-percent gain. In contrast, the S&P 500 and the tech-heavy Nasdaq both fell 0.50 percent and 1.21 percent, respectively.

Meanwhile, we have compiled a list of 10 companies that mirrored the broader market downturn and detailed the reasons behind their drop.

To come up with Monday’s worst performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

Note that the companies we covered in-depth last Friday have been excluded from the list.

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

Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) declined for a fourth consecutive day on Monday, losing another 9.82 percent to end at $60.22 apiece as investors sold off positions to take profits while also digesting news of insider selling.

Last week, CRDO Chief Operating Officer Lam Yat Tung disposed of 169,000 shares in the company at a price ranging from $72.8704 to $76.4784 apiece, totaling $12.7 million.

Following the sell-off, Lam’s ownership in the company ended at 1.1 million, indirectly owned through Zhan BVI Co Ltd, while its direct stake is currently at $2.8 million.

In recent news, Credo Technology Group Holding Ltd (NASDAQ:CRDO) received a bullish outlook from Mizuho Financial, earning a higher price target of $85 from $70 previously, while keeping its “outperform” rating.

According to Mizuho, it sees continued strength in artificial intelligence, custom silicon, and connectivity, the benefits of which will create a ripple effect in the company. He added that AI will benefit memory and storage.

Overall, CRDO ranks 4th on our list of stocks that drop the most amid investor caution. 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 that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

 

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