RKT Jumps After Pre-Announcing 437% Revenue Growth
Rocket Companies Announces Preliminary Second Quarter Results
-Closed loan origination volume of $72.3 billion increased 40% compared to the first quarter of 2020 and 126% compared to the second quarter of 2019
-Total net revenue of $5.0 billion increased 269% compared to the first quarter of 2020 and 437%...
IPO’d a month ago, they report for the first time on 9/2/2020.
Housing starts were very good this morning. Up expectedly by 22%, and RKT is like the “Carvana” for Mortgages apparently
Rocket mortgage embodies more of a tech play then a financial IMO. Volume, short-term interest, technicals, and market sentiment suggests this will test $26 before earnings. Volatile play... trade smart.
I should have published about this asset a day or so ago. I've actually been tracking it since it's inception, but I will say that there might be an opportunity presenting itself soon to invest at (or near) the opening price.
I'll be paying attention to Price Action to leave the necessary clues needed for me to react.
Yesterday's P.A. had breached a level...
I've traded this 2 times, first entry was at $20.18 and was out at on the reversal break of $25. Jumped in again at $23.62 and now looking to see RKT hold the $24.50 zone as support for a breakout over $25. If so, PT is $29.24.
I GOT IN ON THE IPO YESTERDAY AT 18.00 AT OPEN. IT'S TRYING TO FILL GAP TODAY THAT IT CREATED. IF YOU'RE TRYING TO GET ON THAT WOULD BE A GOOD ENTRY. GOOD LUCK THIS ONE COULD BE YUGGGGE.
Nice gap. Trapping some people for sure. Not my favorite gap and go of the day because the prior trend is so strong and bullish that some people will sell today.
