Credo loses half its value after largest customer slashes purchases - Silicon Valley Business Journal

Credo Technology Group Holding Ltd. took a nosedive Wednesday, losing nearly half its value after the company disclosed one of its largest customers slashed its outlook on future purchasing.

"Credo’s long-term financial model remains unchanged," the company said in the filing."In addition, Credo is managing its operating expenses to support future revenue growth and profitability."with the SEC. Together, its top four customers accounted for 69% of Credo's sales.Meet Your Mentor! Make connections and gain valuable industry knowledge from local businesswomen at Mentoring Monday.

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