Credo reported strong earnings after the June 2nd close, and the stock gapped up 19% pre-market.
- Early Action: Volume surged off the open, hitting average daily volume within the first 10–15 minutes.
- Intraday Weakness: Despite the explosive start, the stock faded and closed below the opening price.
- ORB Trade Outcome: A 1-min ORB entry using low of day as stop would have resulted in a ~5% loss by the afternoon.
- Market Context: The selloff was broad — CEG, which gapped up 10% on news of a billion-dollar AI power deal with META, also reversed and closed red.
