Credo Technology (CRDO) Climbs 6% Ahead of Next Week's Business Updates

We recently published 10 Stocks With Massive Gains; 5 at Record Highs. Credo Technology Group Holding Ltd. (NASDAQ:CRDO) was one of the top performers on Wednesday.

Credo Technology snapped a four-day losing streak on Wednesday, jumping 6.05 percent to close at $141 apiece as investors repositioned portfolios ahead of the release of business updates next week.

In a statement, Credo Technology Group Holding Ltd. (NASDAQ:CRDO) said that its President and Chief Executive Officer Bill Brennan and Chief Finance Officer Dan Fleming would present at the 28^th Annual Needham Growth Conference on Wednesday, January 14. Investors will be closely watching out for cues about its strategies and outlook for 2026.

In the past few days of the year, Mizuho Securities issued a “buy” recommendation for Credo Technology Group Holding Ltd. (NASDAQ:CRDO), saying that the company’s recent price weakness could be a huge opportunity to load up on its shares.

This followed the company’s 20 percent drop over the past 30 days, as well as the 2.01 percent decline in just the past four trading days of the year.

According to Mizuho, the stock’s decline was “overblown” triggered by fears of a potential market share loss and losing one of its major clients, Amazon, for the spotted orange and blue cables at the latter’s data centers, versus Credo’s purple cables.

Mizuho, however, clarified that Amazon had requested Credo Technology Group Holding Ltd. (NASDAQ:CRDO) to change the cable colors for internal logistics purposes.

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