Shares of Rocket Companies Inc. RKT,
emitted 74.4% higher on very heavy volume during Tuesday afternoon trading, enough to accelerate all winners on the major US exchanges and put them on track for a record close. The trading volume was 306.4 million shares, compared to the daily average of approximately 13.0 million shares over the past 30 days. The real estate company, with brands like Rocket Mortgage and Rocket Homes, did not immediately respond to a request for comment. The stock is on track to its largest one-day gain since it went public on August 6, 2020, while volume nearly tripled from its previous record of 111.6 million shares on August 6. The stock has skyrocketed by 113.6% in 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 there has been a “large amount of short selling” in the recent stock rally (RKT), with short-term interest rates reaching 47.9 million shares, or 45.8% of the IPO. RKT’s stock price and short selling is reminiscent of another recent high-flying ‘meme’ stock – GameStop Inc. GME,
Ihor Dusaniwsky, director of predictive analytics at S3 wrote in a note to customers. The stock is now up 110.8% over the past three months, while the S&P 500 SPX,
is stuck at 5.9%.