Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Rocket stocks jump sharply, S3 says rally and short sales are reminiscent of another stock of memes

Rocket stocks jump sharply, S3 says rally and short sales are reminiscent of another stock of memes



Shares of Rocket Companies Inc. RKT,
+ 65.80%
exploded 74.4% higher at a very large volume in Tuesday afternoon trading, enough to accelerate all gains on major US stock markets and put them at a record close. The trading volume was 306.4 million shares, compared to the average daily value of about 13.0 million shares in the last 30 days. The branded real estate services company, including Rocket Mortgage and Rocket Homes, did not immediately respond to a request for comment. Shares are heading for the biggest one-day gain since going public on August 6, 2020, while the volume nearly tripled the previous record 1

11.6 million shares on August 6. Shares have now jumped 113.6% in the past three days as the company reported better-than-expected fourth-quarter earnings and declared a special dividend of $ 1.11 per share. S3 Analytics said there was a “large amount of short selling” in the recent stock rally (RKT), with interest rates rising to 47.9 million shares, or 45.8% of the public offering. RKT’s share price and short selling activity are reminiscent of another recent meme shareholder – GameStop Inc. GME,
-1.89%,,
“wrote Igor Dusanovski, managing director of forecasting analytics at S3 in a note to customers. Shares have now risen 110.8% in the last three months, while the S&P 500 SPX,
-0.62%
has reached 5.9%.


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