Article: Hedge Funds Are Dumping Cerence Inc. (CRNC)

Article - Media, Publications

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).
Continue reading “Article: Hedge Funds Are Dumping Cerence Inc. (CRNC)”

Article: Here’s Why Cerence Stock Crashed on Thursday

Article - Media, Publications

Here’s Why Cerence Stock Crashed on Thursday

Jon Quast, 28 May 2020

Shares of automotive-technology company Cerence (NASDAQ: CRNC) crashed on Thursday after the company announced a convertible debt offering of $150 million. The stock was down by a single-digit percentage for most of the day before falling further in late trading. It finished 16% lower.

Even after today’s pullback, Cerence stock has beaten the market since it was spun off from Nuance Communications in October 2019.
Continue reading “Article: Here’s Why Cerence Stock Crashed on Thursday”