Chemours Stock Dips Amid Slowing Demand

Quarter-to-date, CC is still up more than 25%

Digital Content Manager
Nov 29, 2022 at 10:34 AM
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The shares of Chemours Co (NYSE:CC) are down 1.4% to trade at $30.96 this morning, after the company noted slowing titanium dioxide demand in Europe and Asia has its full-year earnings results falling behind its previously issued outlook.

The security is slipping below its 20-day moving average, after conquering this trendline in mid-October and spending most of November well above it. What's more, the equity's last rally lost steam before reaching the $35 level, though quarter-to-date CC is still up 25.2%.

The brokerage bunch is skeptical of CC, with eight of 10 firms in coverage carrying a tepid "hold" rating, while the 12-month consensus target price of $33.50 is a 7.6% premium to current levels.

What's more, the equity's Schaeffer's put/call open interest ratio (SOIR) of 1.28 ranks in the relatively low 28th percentile of annual readings, indicating short-term options traders have been more call-biased than usual. 

CC's Schaeffer's Volatility Scorecard (SVS) sits at 98 out of 100, meaning the security has exceeded options traders' volatility expectations over the past year.


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