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Rocket Companies, Inc. (RKT) engages in the mortgage business in the United States.
It is involved in originating, processing, underwriting, and servicing predominantly government sponsored enterprises-conforming mortgage loans, as well as Fair Housing Act, U.S. Department of Agriculture, and U.S. Department of Veteran's Affairs mortgage loans.
The company offers its mortgage loans in 50 states through the internet, national television, and other marketing channels.
It also offers title insurance, property valuation, and settlement services; online marketing and lead generation services; online-based personal loans; and car sales support services to car rental and online car purchasing platforms.
The company also operates a digital platform for buying and selling homes; a sales and support platform that offers in inbound and outbound contact center services; and a loan origination platform. Shares of this recent IPO got a boost yesterday, rising from a trendline support, after it signed a deal with Realtor.com. Homebuyers shopping on Realtor.com will now see advertising from Rocket Mortgage for pre-approved mortgages. The ads will allow Realtor.com users to connect directly to a Rocker mortgage application.
Higher share prices are expected.
Entry Point: $21.70
Trading Range: $17.50 - $34.42
Stop Loss: $20.60
Target Price: $24.00
RKT closed at $20.50
