Here's Why Rocket Companies Stock Skyrocketed Today

Here's Why Rocket Companies Stock Skyrocketed Today
Joe Tenebruso, The Motley Fool
·2 min read

Shares of Rocket Companies (NYSE: RKT) soared 71% to a new closing high of $41.60 on Tuesday. After igniting short squeezes that helped drive up the prices of companies such as GameStop (NYSE: GME), AMC Entertainment, and Sundial Growers earlier this year, Reddit's traders appear to have found a new candidate. More than 45% of Rocket Companies' freely traded shares were sold short as of the market close on Monday, according to S3 Partners.