As Rocket Companies jumped over 70% yesterday, short sellers are feeling the pain:
A surge in the shares of U.S. mortgage provider Rocket Companies on Tuesday is estimated to have inflicted losses of $813 million on short-sellers, data from financial analytics firm Ortex showed.
Given that this is one of the most shorted stocks in the market and yet has big profits, I could see short sellers losing even more on this one. How long until they give up and frantically cover their bets to avoid the fate of Melvin Capital?
For more on Rocket Companies and Wallstreetbets, check out these posts:
- Rocket Companies Is One of the Most Active in the Options Market
- Big Profits And Lots of Short Sellers Could Make Rocket Companies a Winner
- Big Loans at Almost No Interest for Sundial Insiders Are a Rip Off For Shareholders
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Photo: “Key West, Feb 2012 – 08” by Ed Yourdon is licensed under CC BY-NC-SA 2.0