Rocket falls as RBC suggests Reddit-driven rally is overdone
Rocket falls as RBC suggests Reddit-driven rally is overdone Paul Jarvis, Suzannah Cavanaugh and Felice Maranz, Bloomberg News Reddit rally fuels TSX hot streak VIDEO SIGN OUT Rocket Cos. fell Wednesday, halting a three-day rally driven by sentiment that the home-loan provider was the latest retail-trader favorite for its high short interest. The stock fell as much as 30 per cent, its steepest decline ever, after RBC Capital Markets downgraded its recommendation to sector perform from outperform, with a price target that suggests a 28 per cent drop from Tuesdayâs close. While mor...