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Should You Consider to Sell The Chemours Company (CC)?

Greenlight Capital, an investment management company, released its third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, Greenlight Capital funds returned 4.0% net of fees and expenses compared to a 4.9% decline for the S&P 500 index. For the nine months ended September 2022, the fund delivered a 17.7% return net of fees and expenses compared to a 23.9% decline for the S&P 500 index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Greenlight Capital discussed stocks like The Chemours Company (NYSE:CC) in its Q3 2022 investor letter. Headquartered in Wilmington, Delaware, The Chemours Company (NYSE:CC) is a chemical company. On October 20, 2022, The Chemours Company (NYSE:CC) stock closed at $28.59 per share. One-month return of The Chemours Company (NYSE:CC) was 13.32% and its shares lost 2.06% of their value over the last 52 weeks. The Chemours Company (NYSE:CC) has a market capitalization of $4.496 billion.

Greenlight Capital made the following comment about The Chemours Company (NYSE:CC) in its Q3 2022 investor letter:

"We exited The Chemours Company (NYSE:CC) due to our concern about the deteriorating economic cycle. While the company could release substantial value by separating its commodity-driven titanium dioxide business from its rapidly growing ESG-friendly refrigerant business, we do not believe that management is currently interested in pursuing a separation. As such, we exited our 3-year investment with a mid-single digit IRR."

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The Chemours Company (NYSE:CC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held The Chemours Company (NYSE:CC) at the end of the second quarter, which was 27 in the previous quarter.

We discussed The Chemours Company (NYSE:CC) in another article and shared the best mid-cap stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.