By Kuldip K. Ambastha
Rocket Companies, Inc. (RKT) was in the news during this past trading week. Rocket Companies is a Detroit, MI-based holding company which owns many underlying personal finance and consumer service brands. Rocket Companies prides itself on providing exceptional customer experiences through online solutions aiding the ultimate goals of home ownership and financial freedom for individuals. Retail investors showed a substantial interest in the shares of Rocket Companies during the past trading week. Per the table above, this interest resulted in two days of positive returns which were followed by three days of negative returns.
In the recent past, institutional investors were bearish about the stock and thus shorted it. Upon seeing this trend, retail investors moved into the stock, drove up the price of the stock, and forced many institutional investors to close out short positions. However, the upward return momentum stopped after two trading days. The mortgage market is expected to be strong going forward, but not so strong as to justify the positive price movement in the stock of Rocket Companies. Thus, the trading week ended with three days of negative returns. It remains to be seen what the next stock of massive interest to retail investors will be.
Keywords – Rocket Companies, Inc., Rocket Companies, RKT, Detroit, Michigan, MI, holding company, personal finance, consumer service, customer experience, home ownership, financial freedom, retail, institutional.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in RKT.
Disclaimer – No recommendations are being made via this post. Past performance is not an indicator of future performance. As an investor, you should do your own research and seek professional advice from a Registered Investment Adviser (RIA). You can lose money by investing in stocks and other instruments. Ambastha Financial LLC does not assume any responsibility (legal or otherwise) for any losses that may occur as a result of actions taken based on this post. All content copyrighted © 2021 – Ambastha Financial LLC.