RKT Stock: 14 Reasons Why Popular Reddit Stock Rocket Is Trending Today

Rocket Companies (NYSE:RKT) stock is trending today as investors are hopeful for good news from the mortgage company.

The logo for Rocket Companies displayed on a smartphone screen (RKT).

Source: Lori Butcher / Shutterstock.com

Here’s what investors need to know as RKT stock gets a boost on Wednesday.

  • Investors are hyping up shares of RKT stock in preparation for its earnings report for the first quarter of 2021.
  • The company plans to release this earnings report after the closing bell today.
  • It will also hold a conference call at 4:30 p.m. to go over the details of the earnings report.
  • That means investors won’t see the effects of earnings until after-hours today.
  • That should result in some major movement for the stock when markets open on Thursday.
  • The current estimate from Wall Street is that Rocket Companies will report earnings per share of 90 cents.
  • They are also looking for revenue during the quarter to come in at $4.08 billion.
  • RKT investors appear hopeful that the company will be out these estimates.
  • As such, shares of the stock are getting a minor boost today.
  • Shares of a stock heading higher days ahead of its earnings report are common to see.
  • Rocket Companies isn’t yet seeing major trading of its shares.
  • As of this writing, more than 8 million shares of RKT stock have changed hands.
  • For comparison, the stock’s daily average trading volume is closer to 22 million shares.
  • However, we’re likely to see heavier trading of shares tomorrow in reaction to the company’s earnings report this evening.

RKT stock was up 1.1% as of Wednesday afternoon and is up 13.6% since the start of the year.

Some of Reddit’s favorite companies have been on the move today following earnings results.

Not all are seeing positive movement, but there’s still plenty to talk about. That includes Skillz (NYSE:SKLZ) and Activision Blizzard (NASDAQ:ATVI). There’s also other news to celebrate from Reddit stocks such as GameStop (NYSE:GME), Tesla (NASDAQ:TSLA), and MicroVision (NASDAQ:MVIS).

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2021/05/rkt-stock-14-reasons-why-popular-reddit-stock-rocket-is-trending-today/.

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