Rocket’s Stock Price has Soared by More than 70%

The stock price of online mortgage company Rocket Companies (RKT.US) soared 71.19% on Tuesday (2nd), causing short losses of approximately US$813 million and incurring heavy losses.

On Tuesday, Rocket Companies became the target of Twitter and Reddit villagers launching a short-squeeze attack. The stock price soared 71.19% to 41.60 US dollars that day. According to financial analysis company Ortex estimates, Rocket Companies’ short positions accounted for about 45% of the free float shares, and this wave of gains caused the short side to lose a total of US$813 million.

The MoneyDJ XQ global winner system quotation shows that on Wednesday (3rd) Rocket Companies’ stock price plunged 32.67% to close at 28.01 US dollars.

Benzinga reported that as Rocket Companies began to bear the weight of the empty side, the discussion skyrocketed. According to data from SwaggyStocks, Rocket Companies is the most discussed stock on WallStreetBets recently, with 6,509 mentions in posts, which is higher than GameStop’s 6,266 posts.

Foreign telegraph reports pointed out that GameStop, the largest physical gaming store in the United States, previously became the most watched stock because the WallStreetBets version of the townspeople’s bar was listed on well-known shorting institutions such as Citron Research, and locked in GameStop, AMC, BlackBerry and other stocks that were allowed to sell short. Launched an offensive, forcing the short side to pledge to repay the replenishment securities, pushing the stock price higher, and driving GameStop’s stock price to skyrocket.

 

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