On June 1, Credo Technology fell 11.94% in after-hours trading, trading at approximately 194.41 USD/share, with trading volume of approximately $88.25 million.

On the news front, the company reported fourth-quarter adjusted earnings per share of $1.16, beating the analyst consensus estimate of $1.03 by 12.62%, representing a 231.43% year-over-year increase. Revenue came in at $437 million, also exceeding the consensus estimate of $432 million. Despite the earnings beat, the stock experienced heavy selling pressure as short-term speculative capital locked in gains following a significant multi-day rebound from oversold levels.

The stock had previously declined over 20% across six consecutive trading days due to concentrated insider selling and profit-taking across the optical communications sector. Since May 19, it had staged a substantial recovery driven by strong earnings expectations and a Jefferies top-pick designation highlighting early-stage active cable penetration. Additionally, the company recently completed its acquisition of DustPhotonics, integrating silicon photonics technology into its portfolio covering 800G to 3.2T solutions. However, with the earnings event officially behind, accumulated gains attracted concentrated profit-taking, with intraday weakness of over 5% signaling intensifying bulls-bears divergence before after-hours selling accelerated.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)