Sell Rocket Companies: It Is REKT
Rocket Companies (RKT) went public on Thursday. In the IPO, the company sold 100 million shares at $18. The company started trading on Thursday under the symbol RKT, which in my imagination looks a lot like REKT, or wrecked.
When zooming-in, the companys performance does not look as stellar as it appears on first sight. Furthermore, the company is heavily dependent on macroeconomic conditions and government agencies and this exposure warrants a value of just north of $8 per share in my opinion….