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Why Shares of Rocket Companies Are Falling Today

TheMotleyFool

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Why Shares of Rocket Companies Are Falling TodayPhoto, wide shot, wide-angle lens, Private equity firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/2b695cca-48cb-4195-802a-e3385fb90ec0.png

Shares of Rocket Companies (NYSE: RKT) had fallen nearly 5% as of 11:51 a.m. ET today for no obvious reason, although the stock looks to be cooling off after a nice run following the large mortgage originator's earnings report at the end of February.

Rocket missed on earnings estimates for the fourth quarter of 2021, which continued to reflect a slowing mortgage market, but the stock rallied in the weeks following possibly due to guidance. Rocket guided for closed loan origination volume in Q1 of $52 billion to $57 billion, which is higher than in the fourth quarter of 2019 before the pandemic and ultra low rate environment set in.

Image source: Getty Images.

Source Fool.com

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