10 Stocks Defy Monday’s Market Optimism

6. Credo Technology Group Holding Ltd. (NASDAQ:CRDO)

Credo Technology dropped its share prices by 4.33 percent on Monday to end at $47.02 each as investors repositioned portfolios following news that it filed a patent infringement complaint against four companies for the importation of products that infringe its patents related to Active Electrical Cables (AEC).

Last week, CRDO asked the United States International Trade Commission to initiate an investigation against Amphenol Corporation, Molex LLC, TE Connectivity PLC, and Volex PLC to block the importation of its AECs.

In addition, CRDO said it was filing parallel complaints in the Federal District Court alleging willful infringement as it provided notice of its patents to the said companies in September 2023.

“The action against these companies reflects Credo’s commitment to protecting its foundational innovations in AEC technology. Since its founding in 2008, Credo has developed, created, and delivered to U.S. customers a variety of high-speed wired connectivity solutions in the data infrastructure market, including its series of distinctive purple HiWire AECs,” the company said.