On July 13, Credo Technology fell 5.65% in regular trading, trading at $239.875/share, with turnover of $319 million. The decline came as the broader optical communication sector experienced a collective selloff.

On the news front, U.S.-listed optical communication stocks saw widespread declines, with Corning and Astera Labs falling over 6%, Applied Optoelectronics and Credo dropping over 5%, and Lumentum, Ciena, and Coherent declining over 3%. The sector had shown pre-market weakness before the session began. The pullback follows a period of sustained gains driven by AI data center high-speed interconnection demand, with the sector now experiencing notable profit-taking.

Additionally, a Form 144 filing revealed that a director-related account, CHENG HUANG FAMILY TRUST, plans to sell 275,000 shares of common stock valued at approximately $73 million through Morgan Stanley Smith Barney on NASDAQ, adding further pressure to market sentiment.

(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.)