2 Months Ago
2 Min Read

RKT shares increased 6% today. Here's why:

RKT
-1.81% 24h



Rocket Companies, Inc. (RKT) is trading 6% higher at $10.245 today.

  • Beaten down by slowing housing market 
  • Market optimistic today that the housing market decline is coming to an end

Rocket Companies, Inc. has been trading between a 52-week high of $18.16 and a 52-week low of $6.27. The stock has a market cap of $1.21 Billion.

Rocket Companies is a Detroit-based holding company consisting of personal finance and consumer technology brands including Rocket Mortgage, Rocket Homes, Rocket Loans, Rocket Auto, Rock Central, Amrock, Core Digital Media, Rock Connections, Lendesk and Edison Financial. Since 1985, Rocket Companies has been obsessed with helping its clients achieve the American dream of home ownership and financial freedom. Rocket Companies offers an industry-leading client experience powered by our simple, fast, and trusted digital solutions.

Headlines


Rocket Companies Will Survive Housing Slump (NYSE:RKT)
Seeking Alpha 08-08-22

More Inflation Ahead? Analysts Upgrade or Downgrade Coinbase, Grab, Roku and More
24/7 Wall street 08-08-22

Rocket Companies: Shares Look To Keep Rebounding Off The June Low (NYSE:RKT)
Seeking Alpha 08-08-22

Rocket Cos Inc. PT Raised to $10 at RBC Capital
Investing.com 08-08-22

Rocket Cos Inc. PT Lowered to $9.50 at UBS
Investing.com 08-08-22


As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

Chrononubz - 3 upvotes - source
Y'all just buy RKT calls already where are my BBBY FOMO boys?

Chrononubz - 3 upvotes - source
Me RKT is looking good! Can't wait for the U-turn! Fed will be more dovish moving forward. Jobs will probably accelerate. Consumer spending will grow,. Housing prices will go down and people will buy more Homes. Mortgage companies will u-turn with the FED with interests rate hikes dwindling with inflation dwindling. !Banbet RKT $14 1 m

Chrononubz - 3 upvotes - source
RKT can get a nasty gap fill to the upside after $11 mark. Can easily go to $14. Previously had negative catalysts, but imo it was intended for a more dramatic best next quarter. COIN runs on negative catalyst. Is it time for RKT?

Quietbones77 - 2 upvotes - source
Thoughts on RKT?

Chrononubz - 2 upvotes - source
RKT starts now!

Chrononubz - 2 upvotes - source
Anyone else playing RKT?

Chrononubz - 2 upvotes - source
12% to the upside then RKT can fill the gap to the $14 range. CEO has been buying shares the past few months. "opened at $9.42 on Tuesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 14.97 and a quick ratio of 13.54. The company’s 50 day simple moving average is $8.46 and its 200 day simple moving average is $9.91. Rocket Companies, Inc. has a 12 month low of $6.27 and a 12 month high of $19.55. The company has a market capitalization of $18.56 billion, a P/E ratio of 7.36, a PEG ratio of 4.04 and a beta of 1.72." Don't chase stocks that already pumped. Find the ones before they pop. My positions- RKT 9.99c 9/16 RKT 10c 8/12 RKT 11c 8/19

imslightlyretardedd - 1 upvotes - source
It was everything RKT was not.

Chrononubz - 1 upvotes - source
RKT beginning to breakout

overzeetop - 1 upvotes - source
This is nothing. Think of all the people who bought RKT at 30. OP hasn't even lost enough* to get the complimentary embroidery on his bags.   \* yet