The individual investors that powered GameStop Corp.’s meteoric rise have a new target: Rocket Cos., the parent company of Quicken Loans.
Shares of the mortgage lender surged 71% to $41.60 on Tuesday and nearly 377 million shares traded hands, more than a 10-fold increase from the previous day. Its trading was halted several times Tuesday afternoon because of its volatility. Rocket shares were down nearly 20% in early trading Wednesday.
Like GameStop, Rocket is heavily shorted. As of this week, 46% of its shares available for trading were being shorted by investors betting the price would fall, according to S3 Partners, a data-analytics firm. That was up from about 33% in late January and 17% in mid-September, according to FactSet.that gave birth to GameStop’s rise, have been encouraging each other to buy the stock in recent days and sharing evidence of their own massive gains.
Rocket announced last week it would pay a one-time dividend of $1.11 per share later this month, citing its “highly profitable and capital light business model.” Some investors saw the move as a way to fend off short sellers. Short sellers are
Man...this story is LATE
This time they will be joined by hedge funds
you you guys said calina WOULD BE NEXT FREReno BULLDOGS WHO WORK OWTH CRYPTS Work with whihc cartel . then which mob. THE ORDER TAHT YOU goverment hd fromt he public that got al of our kids FBI CIA
Ugh - don’t be messing with Quicken, Mint is my favorite (free) app!
Um, no. Nice try guys.
Yeah high stocks like this 🚀🤣🤣🤣
that blew then popped
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