Colossal magnetoresistance (MR) is a well-known phenomenon, notably observed in hole-doped ferromagnetic manganites. It remains a major research topic due to its potential in technological applications. Though topological semimetals also show large MR, its origin and nature are completely different. Here, we show that in the highly electron doped region, the Dirac semimetal CeSbTe demonstrates similar properties as the manganites. CeSb$_{0.11}$Te$_{1.90}$ hosts multiple charge density wave (CDW) modulation-vectors and has a complex magnetic phase diagram. We confirm that this compound is an antiferromagnetic Dirac semimetal. Despite having a metallic Fermi surface, the electronic transport properties are semiconductor-like and deviate from known theoretical models. An external magnetic field induces a semiconductor-metal-like transition, which results in a colossal negative MR. Moreover, signatures of the coupling between the CDW and a spin modulation are observed in resistivity. This spin modulation also produces a giant anomalous Hall response.