![]() ![]() The company has a strong brand and a proven track record of success in the mortgage and real estate industries. Leading Market Position: Rocket Companies is the largest mortgage lender in the United States, with a 9.2% market share as of 2021.The company has a solid balance sheet and is well-positioned to continue growing in the future. Strong Financial Performance: Rocket Companies has a track record of strong financial performance, driven by the growth of its mortgage and real estate businesses.There are several reasons why Rocket Companies may be worth considering for your investment portfolio: The company has a market capitalization of $6.9 billion and a price-to-earnings ratio of 4.09. However, the stock has since experienced significant volatility, with prices fluctuating between $17 and $32 per share in the months following the IPO.Īs of March 18, 2023, the RKT stock is trading at $17.21 per share, which represents a 52-week low. The stock quickly rose in value, reaching a high of $34.42 per share on September 2, 2020. Rocket Companies went public on August 6, 2020, with an initial public offering (IPO) price of $18 per share. In addition to its strong financial performance, Rocket Companies has a solid balance sheet with $4.9 billion in cash and cash equivalents as of December 31, 2020. The company has also seen strong growth in its real estate business, with closed sales volume increasing from $6.9 billion in 2019 to $11.6 billion in 2020. Rocket Companies' mortgage business has been particularly successful, with origination volume increasing from $95 billion in 2019 to $320 billion in 2020. In 2020, the company reported net income of $3.8 billion on revenue of $16.9 billion, an increase of 170% and 144%, respectively, from the previous year. Rocket Companies' financial performance has been impressive in recent years, driven by the growth of its mortgage and real estate businesses. The company also operates several other brands, including Rocket Mortgage, Amrock, and Rocket Homes. Rocket Companies' flagship brand is Quicken Loans, which offers online mortgage services to consumers. Rocket Companies is now the largest mortgage lender in the United States, with a 9.2% market share as of 2021. The company originally focused on providing mortgage services to consumers, but has since expanded into a range of other businesses, including real estate, personal loans, and auto financing. Rocket Companies was founded in 1985 as Rock Financial by Dan Gilbert, a prominent entrepreneur and investor. In this article, we will take a closer look at Rocket Companies and its stock (RKT), and explore why it may be worth considering for your investment portfolio. The company operates primarily in the mortgage and real estate industries, providing a range of services to both consumers and businesses. (NYSE: RKT) is a financial services company based in Detroit, Michigan.
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