Shares of fintech mortgage provider Rocket Companies (NYSE:RKT) jumped 3.6% in the morning session after the company reported a notable increase in starter home sales for the month of June, signaling strength among first-time homebuyers. The company announced through its real estate brokerage, Redfin, that sales in this segment rose 3.9% year-over-year, reaching their highest level in two years. This report marked a bright spot in an otherwise sluggish housing market, where sales in other price tiers actually declined. The data indicated ten consecutive months of growth in starter home sales, driven by an influx of first-time homebuyers. This performance suggested a pocket of strength for Rocket Companies, showing resilience in a key demographic despite broader market weakness.
Joshua Brown, CEO of Ritholtz Wealth Management, picked Rocket Companies as his final trade on CNBC's Halftime Report. Toll Brothers and Fastenal were also highlighted by other analysts.
The $10-50 price range often includes mid-sized businesses with proven track records and plenty of growth runway ahead.
They also usually carry less risk than penny stocks, though they’re not immune to volatility as many lack the scale advantages of their larger peers.
Opendoor Technologies Inc (NASDAQ:OPEN) shares are off to another strong start in early trading Tuesday as retail traders continue to bid up the name. Here's everything you need to know.
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q1. Today, we are looking at thrifts & mortgage finance stocks, starting with Rocket Companies (NYSE:RKT).
In cities and towns across the United States and much of the world, the same anxious conversation echoes: “Why are homes so expensive?” From young families locked out of the market, to renters seeing leases soar, to seniors unable to downsize affordably, the housing crisis has become a defining issue
Stability is great, but low-volatility stocks may struggle to deliver market-beating returns over time as they sometimes underperform during bull markets.
