Why Shares of Rocket Are Bouncing Today
Shares of Rocket Companies (NYSE: RKT), the largest mortgage originator in the U.S., bounced more than 10% higher at one point in the mid-morning after an analyst firm upgraded the stock.
Rocket has been on a turbulent ride as of late. Last week, traders including those who follow the popular Reddit group WallStreetBets noticed a lot of short interest in the company, and pumped up the stock to nearly $42 per share.
Since then, shares have come back down to around $26.50, with a lot of volatility. Still, the stock trades much higher from late February, when it sometimes traded below $20 per share.
Source Fool.com
