Shares of Rocket Companies Inc. RKT, +71.19% dropped 8.1% in premarket trading, to pull back after more than doubling over the past three sessions. The stock had soared a one-day record 71.2% on Tuesday on record volume of 376.6 million shares, and ran up 109.0% amid a three-day win streak, after the real estate services company reported better-than-expected fourth-quarter results and announced a special dividend of $1.11 a share. The company is presenting later Wednesday at the Morgan Stanley Technology, Media and Telecom Conference. S3 Partners said Tuesday that the stock’s recent rally and short-selling activity, in which short interest increased during the rally, was “reminiscent of another recent highflying ‘meme’ stock — GameStop Inc.” GME, -1.84%. Rocket’s stock has advanced 104.8% over the past three months through Tuesday, while the S&P 500 SPX, -0.81% has gained 5.6%.
View Article Origin Here
