10 Stocks Drop The Most Amid Investor Caution

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

Shares of Credo Technology 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, 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.