Shares of Credo Technology Group Holding Ltd, traded on NASDAQ under the symbol CRDO, exhibited a significant surge of 17.4% in premarket trading, reaching a price of $144.87. This uptick was driven by the company’s updated financial outlook for its third quarter of fiscal year 2026.
In its preliminary quarterly report, Credo Technology announced that it anticipates revenue within the range of $404 million to $408 million. This is a marked increase from the company’s prior guidance, which had forecasted revenues between $335 million and $345 million.
The company also indicated expectations for sequential revenue growth in the mid-single digits during the concluding period of the fiscal year. Such performance would culminate in a remarkable year-over-year revenue expansion exceeding 200% for the entire fiscal year. This robust outlook has evidently fueled investor optimism, as reflected by the sharp rise in share price in early trading hours.
Meanwhile, broader premarket trading activity displayed significant movements across several other stocks, reflecting a dynamic trading environment.
Stocks Reporting Gains in Premarket Trading
- ABPRO Holdings Inc. (NASDAQ: ABP): Experienced an exceptional gain of 109.2%, with its shares climbing to $3.18. This spike followed a regulatory filing disclosing that Goldman Sachs Group has acquired a 6.8% stake in the company.
- Quince Therapeutics Inc. (NASDAQ: QNCX): The company’s shares rose by 58.3% to $0.21 after announcing that it is assessing strategic alternatives, prompting market speculation and increased investor interest.
- Lixiang Education Holding Co Ltd – ADR (NASDAQ: LXEH): Shares advanced 25.8%, trading at $0.30, reflecting growing investor confidence.
- Jiuzi Holdings Inc. (NASDAQ: JZXN): After experiencing a notable decline of around 19% on Monday, shares rebounded by 22.1% to $1.66 in premarket trading.
- Ichor Holdings Ltd. (NASDAQ: ICHR): The company saw a 20.2% increase to $41.00 after reporting fourth-quarter financial results that surpassed expectations and issuing first-quarter guidance that exceeded analyst estimates.
- Microbot Medical Inc. (NASDAQ: MBOT): Its shares were up 20.1% at $2.21, continuing an upward trend after previous modest gains.
- Liminatus Pharma Inc. (NASDAQ: LIMN): Despite a 21% decline on Monday, the stock rebounded by 11.7%, reaching $1.62. The company agreed to issue 4 million common shares to Clear Street as part of a settlement.
- Clear Channel Outdoor Holdings Inc. (NYSE: CCO): Shares rose 6.9% to $2.34, following an acquisition agreement with Mubadala Capital and TWG Global valued at $6.2 billion.
- Koninklijke Philips NV (NYSE: PHG): Shares increased by 6.3% to $31.48, propelled by positive fourth-quarter performance results.
Stocks Showing Declines Premarket
- Neo-Concept International Group Holdings Ltd (NASDAQ: NCI): Suffered a 35.1% drop to $0.72 following the pricing of a public offering at $0.5454 per share to raise $8.1 million.
- Tectonic Therapeutic Inc. (NASDAQ: TECX): The stock fell 32.2% to $16.79.
- Iveda Solutions Inc. (NASDAQ: IVDA): Declined 28.2% to $0.27 after announcing the pricing of a $2 million public offering.
- Reliance Global Group Inc. (NASDAQ: EZRA): Dropped 24.1% to $0.19 despite having surged over 55% the previous day following an acquisition agreement.
- Upwork Inc. (NASDAQ: UPWK): Shares tumbled 24.1% to $14.24 after releasing fourth-quarter results and issuing first-quarter guidance below market expectations.
- Ensysce Biosciences Inc. (NASDAQ: ENSC): Fell 18.7% to $0.49 following a prior gain of 32%.
- Regenxbio Inc. (NASDAQ: RGNX): Declined 14.2% to $8.85 after the U.S. Food and Drug Administration issued a Complete Response Letter related to RGX-121 therapy.
- Becton Dickinson and Co (NYSE: BDX): Shares dipped 13.2% to $180.02 despite reporting positive first-quarter earnings.
- Amentum Holdings Inc. (NYSE: AMTM): Fell 12.8% to $31.90 following mixed quarterly financial results.
- BioRestorative Therapies Inc. (NASDAQ: BRTX): Declined 11.4% to $0.92.
These premarket fluctuations illustrate a market environment charged with varied investor responses to corporate announcements, earnings disclosures, strategic developments, and financing activities.
Summary of Market Movements
The trading session before the market officially opens revealed a broad spectrum of activity among individual stocks, with notable gains in companies signaling strong operational performance or strategic initiatives. Concurrently, certain stocks declined amid capital raising efforts or less favorable earnings outlooks.
Credo Technology Group Holding Ltd stands out with its strong forecast revisions suggesting a pivotal expansion phase, providing a significant catalyst for its share price appreciation. The anticipation of continuing revenue growth into the end of fiscal 2026 adds momentum to investor confidence.