SPACS TO THE MOON - LITERALLY
Mortgage company Rocket Companies exploded over 73% today. Much like GameStop and AMC, $RKT was a heavily shorted stock. But when push came to shove, the bulls pushed the shorts in front of a train, starting a giant short squeeze. This momentum comes on the heels of the company declaring a special dividend after a blowout quarter. Each shareholder of $RKT on March 9 will receive $1.11 per share for the dividend. Speaking of rockets, space launch company Rocket Lab is going public through the Vector Acquisition SPAC in a $4 billion deal. The company has already launched nearly 100 satellites into orbit around Earth and has commitments to do missions to the Moon, Venus, and Mars. The company will build a new rocket with a reusable first stage from the proceeds generated from the SPAC. They are also looking to make a move into bigger government contracts & commercial satellite launches launched by SpaceX and ULA. The company $VACQ popped 26% on the news of the merger. Online marketing & couponing site Groupon flamed all the bears and doubters on their Q4 earnings call. The company reported nearly twice as much in profit as was expected by analysts, sending the stock rising 32% since the close on Friday. Given the robust earnings beat, some analysts were made to reevaluate their positions on the stock. UBS, J.P. Morgan, and Credit Suisse all raised their price targets for $GRPN.
Rocket Companies is a Detroit-based holding company consisting of personal finance and consumer technology brands including Rocket Mortgage, Rocket Homes, Rocket Loans, Rocket Auto, Rock Central, Amrock, Core Digital Media, Rock Connections, Lendesk and Edison Financial. Since 1985, Rocket Companies has been obsessed with helping its clients achieve the American dream of home ownership and financial freedom. Rocket Companies offers an industry-leading client experience powered by our simple, fast, and trusted digital solutions. Rocket Companies has 22,000 team members across the United States and Canada. Its flagship company, Rocket Mortgage, has been named to Fortune magazine's list of '100 Best Companies to Work For' for 17 consecutive years.