Rocket Companies stock sinks nearly 14% (RKT) — what’s driving the slide and what comes next
Rocket Companies fell 13.7% to $17.93 Friday, with trading volume tripling its 50-day average. Mortgage lenders slid after PennyMac missed profit targets and dropped 33%, citing tighter loan margins. The 10-year Treasury yield neared 4.25% as markets reacted to Kevin Warsh’s Fed nomination. Investors await U.S. jobs data and mortgage figures next week.