Rocket Companies shares skyrockets, S3 says rally and short selling are reminiscent of another “meme” stock

Shares in Rocket Companies Inc.
RKT,
+ 68.44%

exploded 74.4% higher on very heavy volume in afternoon trading on Tuesday, enough to pace all winners on major US stock markets, and put them on the right track for a record close. The trading volume was 306.4 million shares, compared to the full daily average of approximately 13.0 million shares over the past 30 days. The real estate company, with brands including Rocket Mortgage and Rocket Homes, did not immediately respond to a request for comment. The share is on its way to the largest one-day gain since it was listed on the stock exchange on 6 August 2020, while the volume almost tripled the previous record of 111.6 million shares on 6 August. The stock has now soared 113.6% over the past three days, as the company reported better-than-expected fourth-quarter results and announced a special dividend of $ 1.11 per share. S3 Analytics said that there has been a “large amount of card sales” in the share (RKT)’s latest rally, with short-term interest rates increasing to 47.9 million shares, or 45.8% of the public fleet. “RKT’s share price and card sales activity are reminiscent of a new high-flying flight recently ‘meme’ lager – GameStop Inc.
GME,
+ 0.19%
,
“Ihor Dusaniwsky, CEO of predictive analytics at S3, wrote in a note to customers. The stock has now accumulated 110.8% over the past three months, while the S&P 500
SPX,
-0.40%

has hit 5.9%.

.