Please add RKT Rocket Inc

@david please add Rocket Inc RKT

It was added the other day :rocket:

Seen these guys requested a fair bit recently. What’s the draw?

I’m going to do some DD tonight but just curious to hear others opinions and catalysts. :+1:

I hold a small position in this, around 0.5% of my portfolio before today’s gains, however it has risen incredibly today.
I am considering selling as this increase seems unreasonable. I think the company was undervaled before today and last week’s results were very good, however if it is just “hype” then it might come crashing down soon.

Does anyone know what is going on?

Is anyone on Reddit? According to Yahoo (citing Reuters) this is due to “hype” on Reddit.

@phildawson you seem interested, from the previous post, are you following this?

Sold about two months ago after bag, carrying for about 4 months previous to that. Did absolutely nothing the entire time except drop 30% from my buy price.

Not bitter. I’ve used the money more widely elsewhere and made back the losses.

I like the company still but if it’s become a meme stock I’m not interested.

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Continued:

Maybe I should have bought more. I literally looked into it again when it released results last week and was waiting to increase my position next time I added funds.

I think I will hold for now and see what happens. 0.5% of (Around 1% now) is not a lot, so not much to lose if it comes down.

This is my concern also…

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Perhaps trim some of the fat in case it drops tomorrow?

Yeah I bought in at earnings, which it beat easily, but tanked anyway. Held through the following ER and nothing, so gave up. Seemed to be a dead rubber.

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I honestly dont hope any of my stocks get this meme treatment, I mean let me rephrase. IF i owned this or similar I would sell on these big gains as the stock has potentially detached from my normal understanding and fundamentals.

I know 0 about RKT just more a opinion as this is becoming more of a pattern. Luckily most my stocks are boring/too big for reddit.

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I’ve not been following this one. :neutral_face:

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Bought a few last week, don’t want this Reddit craze attached to it, frustrating as looks a brilliant company with a very switched on CEO and management team.

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What’s the difference between this and market manipulation?

https://www.cnbc.com/2021/03/02/shares-of-rocket-companies-a-large-short-target-by-hedge-funds-jump-more-than-20percent-.html

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On the one hand you have published results and facts and Internet interviews in the public domain indicating to all intents and purposes that this is a good company, solid & and has a future, but you then get the hedge funds that are prepared to short the stock (which I presume the public has access to see the levels?).

coinspeaker:
Currently, the company has large short bets placed against it by hedge funds. According to FactSet, about 40% of its available shares have been sold short.

What is it that hedge funds know about or can see (privately?) that no-one else can or do HF’s just take a punt at a short bet…

They say that the markets do have these shocks constantly and can deal with but if the frequency increases in the future how will that pan out for the markets? (apologies more questions than answers for me!).

I saw that T212’ers are interested though over last 24hrs :open_mouth: -

The hedging may simply be part of a normal risk strategy. What’s “normal” for a company of this size in relation to shorting?

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Well I’ve just tried to put a Limit Order in and I can’t long or short it. So it’s worthless.

Good point @Kennybobs probably just normal strategy as you say, I forgot about that. The turmoil (can I say that?) just seems to come from Reddit and blogs, there’s definitely a different world out there now!

Along similar lines that I came across and it does have a serious impact -
VanEck Vectors Social Sentiment ETF

“It does not help investors, companies or really anyone in the capital markets if we keep seeing the prices of company stocks be completely disconnected from their fundamental values,” Gellasch said. Our capital markets exist to channel investor money into good companies that do good and grow our economy. When stock prices have no relation to that fundamental purpose, everything breaks. These things seem like fun, like lottery-style gambling, but there are real companies and jobs and retirement savings at the other end of it.”

Imagine that! :smile:

every company should have a number of shorts against them in respect to how the price compares to the fundamental, if only to prevent the whole market becoming a pump where prices go up endlessly and the next person is always worse off than the one before just for showing up late to the party. If only to keep prices reasonable and realistic.

reddit seems to treat all of these as evil however and people wilfully inflate the prices for profit so the next unlucky retail investor comes along to carry the bag. their story with GME was “how dare they short over 100%(only possible if you ignore synthetic shares, the number cannot exceed 100% in full)” now 40% is enough for them to cry injustice?