Hedge Funds Are Dumping Cerence Inc. (CRNC)
Debasis Saha, 05 July 2020
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. In this article, we will take a closer look at hedge fund sentiment towards Cerence Inc. (NASDAQ:CRNC) at the end of the first quarter and determine whether the smart money was really smart about this stock.
Cerence Inc. (NASDAQ:CRNC) has experienced a decrease in enthusiasm from smart money in recent months. Our calculations also showed that CRNC isn’t among the 30 most popular stocks among hedge funds (click for Q1 rankings and see the video for a quick look at the top 5 stocks).
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