That could be the case, because in theory, the money moves out of shares and into interest-earning deposits when the interest rises. The other side of the same coin is that the interest rate in present-value-of-money calculations would down-value CCP's expected dividend stream.
If the rate of interest impacts all stocks, then where do those that sell park the proceeds? Some may get into interest-bearing instruments, others may pay down interest-bearing debt. Retail investors would incline toward the latter, I imagine.
In a world of perfect knowledge, we would know why shareholders sell, hold or buy a stock, but in reality, we live in a world of imperfect knowledge. Studies like that of Dunning and Kruger (https://en.wikipedia.org/wiki/Dunning–Kruger_effect) have shown that the ignorant are often the most adament, so take all opinions with caution.
CCP Price at posting:
$29.38 Sentiment: Hold Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)