Rocket Companies Stock Blasts Off After $14B Mega-Merger – Will RKT Keep Soaring?
Rocket Companies closed a $14.2 billion acquisition of Mr. Cooper Group on Oct. 1, the largest mortgage merger to date. RKT stock trades near $17, up about 80% year-to-date but below its early October high of $22.56. Shares have rallied 50% since the merger was announced in March, with short interest at 57%. Q3 earnings are due Oct. 30, with analysts expecting EPS of $0.04, down 50% year-over-year.