Is Rocket Mortgage the new Gamestop

[NTDawg]

I'm not a stock person but noticed that Rocket Mortgage has movement today. Is this the start of a GameStop situation?

 

[jethreauxdawg]

No clue, it’s shorted about 40%. I think that’s high

 

[GloryDawg]

I would stay away from anything mortgage. Once Corvid is over there will be a lot of forecloses. Hell the executive order stopping them are being challenge in the courts now.

 

[Jeffreauxdawg]

It looks like people are out here hunting for highly shorted stocks and rushing into them. RKT probably had a bunch of shorts jump on last week when interest rates spiked up. This is getting wild. RKT is quite a bit bigger than GME so only the big hedge funds are going to move it in a huge swing.

 

[fishwater99]

Yes, Wallstreetbets is all in on this one.

 

[jethreauxdawg]

Alright Fish, where does this ride end?

 

[fishwater99]

Alright Fish, where does this ride end?

I think it could go to over $100 in the next week.
They trying a GME type short squeeze, but this is a much bigger stock with less short interest.
I bought in this am and will place a sell stop market order to secure some profits no matter what.

https://www.reddit.com/r/wallstreetbets/comments/lw6hoh/rkt_megathread_for_march_2nd_2021/

https://www.marketwatch.com/story/r...ther-meme-stocks-2021-03-02?mod=mw_latestnews

 

[kired]

If you're going to jump in this morning would have been the time. Back in January GME doubled pretty quickly and sort of held for a few days before everyone outside of WSB jumped in and we saw the big surge. RKT already has a lot of attention. I don't know that it will gain much more momentum. Tomorrow could be a big day... but it will probably fizzle out pretty quick.

 

[UpTheMiddlex3Punt]

I bought a small position irl and also in the fantasy league

 

[MaroonOil]

Technicals here, if RKT got historically overshorted like GME & a lot of those shorts in GME still can’t get out of their positions right now.

Then yes, RKT would be another GME.

 

[UpTheMiddlex3Punt]

There's also the special $1.11 dividend that the shorts will have to pay to the stockholders they borrowed from.

 

[MaroonOil]

IShares, silver, weed & now rocket company have all been pump & dump bull traps to try & get people out of GME & AMC.

I enjoy how desperate these people are, especially when the news outlets were saying it is over & all the retail has moved on! Blood is in the water. I keep buying & buying out of spite at this point.

I am seeing everything Mark Cuban has said, these people would rather get fined or delisted before covering. Everything is being done to get people to sell & move on. Man oh man it shows.