Wednesday, 03 Mar 2021 07:23 AM MYT
A banner celebrating Rocket Companies Inc, the parent company of US mortgage lender Quicken Loans, IPO is seen on the front facade of the New York Stock Exchange in New York August 6, 2020. Reuters pic
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NEW YORK, March 3 Heavily shorted mortgage provider Rocket Companies saw its stock surge yesterday, in an eye-popping move reminiscent of the rallies that powered GameStop and other so-called meme stocks earlier in the year.
Shares of Rocket, the parent company of Quicken Loans, closed up 71.2 per cent at US$41.60 (RM168.83) after being halted several times for volatility. More than 367 million shares changed hands in the stock’s busiest trading day ever.
/PRNewswire/ Greg Becker, President and CEO of SVB Financial Group (NASDAQ: SIVB), will participate in a virtual "fireside chat" at the 2021 Morgan Stanley.
Photo: Joshua Sudock/Disneyland Resort via Getty Images)
One of the more interesting stories of the
horrified shudder first third or so of the COVID-19 pandemic was the months-long feud between AMC and NBCUniversal that started when Universal announced that
Trolls World Tour had done so well on on-demand platforms after losing its theatrical run that future Universal movies would also potentially be skipping the theaters even after the pandemic had ended. AMC was so mad about this that it declared that no Universal movie would ever play in an AMC theater again, which Universal could not have cared less about, but a few months later they came to an agreement involving shortened theatrical windows that apparently made everyone happy. Then, Disney started dropping movies right on Disney Plus and Warner Bros. announced that its entire 2021 slate would be released in theaters and on HBO Max simultaneously. Basically, while AMC was worrying about NBCUniversal upending the traditional
Rocket Companies shares soar more than 70%, hurting short sellers
Reuters | Mar 02, 2021 03:57 PM EST
A banner celebrating Rocket Companies Inc., the parent company of U.S. mortgage lender Quicken Loans, IPO is seen on the front facade of the New York Stock Exchange (NYSE) in New York City, U.S. (Photo : REUTERS/Brendan McDermid)
Shares in heavily-shorted mortgage provider Rocket Companies surged on Tuesday and were set for their third straight day of gains as the stock drew interest on Twitter and Reddit s popular WallStreetBets.
After being halted for volatility the stock was last up 46.2% at $35.54, after earlier rising as much as 73.5%. It extended earlier gains as volume spiked higher in the afternoon with the more than 212 million trades far exceeding the number of publicly traded shares. And at its session high so far, the stock was more than 110% above Thursday s closing price.
Follow RT on Facebook’s CFO is concerned that as more people get vaccinated against the novel coronavirus, they’ll be less likely to click on Facebook ads and more likely to seek out travel and non-sedentary pursuits.
CFO David Wehner suggested on Tuesday that users’ cash will end up in the pockets of
“services like travel,” as more people get vaccinated for Covid-19 and fewer have any reason to stay home ordering goods they’ve seen advertised on Facebook.
Speaking at the Morgan Stanley Technology, Media and Telecom Conference, Wehner declared that while it was a bit early to prognosticate for 2021 given the