Cvkd stock price benefited from renewed retail investor

CVKD stock price benefited from renewed retail investor engagement on market forums, translating into intraday spikes that breached minor resistance levels. In this article, we first used a stock screener to list down all stocks trading under $5 (as of the writing of this article) with high institutional ownership. We have limited our selection to stocks that went IPO over the past year. From the resultant dataset, we chose 10 stocks with the highest number of hedge fund investors, using Insider Monkey’s database of 920 hedge funds in Q1 2024 to gauge hedge fund sentiment for stocks. We have used the stocks' market cap as a tie-breaker in case two or more stocks have the same number of hedge funds invested. Cadrenal Therapeutics, Inc. ( (CVKD) ) just unveiled an announcement. CVKD stock price performance aligns with market chatter about M&A activity in the biotech space. Any confirmed deal could act as a major catalyst to push valuations toward previous highs.