NEW YORK: 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.
That would make it similar to GameStop and other popular “meme stocks” that soared in January and plummeted last month, only to come alive again in recent weeks. As of Monday's close, US$1.2 billion worth of the company's shares outstanding were sold short, compared with US$937 million a week ago, according to Dusaniwsky. The percentage of shares outstanding sold short stood at 45.8 per cent as of Monday's close, from 35.5 per cent at the beginning of February, he said.
Rocket also announced a special dividend of US$1.11/shr payable on Mar 23 to shareholders of record at close of business on Mar 9.