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The Panic-Proof Portfolio (Stockchase Research) Rocket Companies, Inc. RKT-N PAST TOP PICK Oct 29, 2020

(A Top Pick Oct 13/20, Down 15.2%)Stockchase Research Editor: Michael O'Reilly We are recommending covering RKT as we have violated the stop-loss set at $20. We are choosing to keep our powder dry for other opportunities.

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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

TOP PICK

Stockchase Research Editor: Michael O'Reilly If you are looking for an up and coming market disrupting company, RKT could be it. The company provides an online way to help clients apply for mortgages, execute contracts, handle monthly payments and provide real-time mortgage quotes. The company just announced a partnership with a major online realty search company. Earnings are up over 200% from a year ago, for the company that just went public in August. Loan originations were up over 125%. We would trade this with a stop-loss at $20. Yield 0% (Analysts’ price target is $27.75)

COMMENT

America's largest mortgage lender doesn't get enough love. They went public in August at $18, but rose above $30, then sank to the high-teens. Yesterday, they beat top and bottom line in a report and announced a $1 billion buyback. The stock fell 2% today. Makes no sense.

HOLD

It trades with the banks, not financial services. Business is good. A good company, but neither a buy or sell.

WAIT

When the lock-up expiration comes, buy. IT's a good company. Their lending is better than any US bank. Right now, this is interesting, but not compelling.

DON'T BUY

The competition in this industry is so difficult, even though RKT is expanding into the solar industry.

DON'T BUY

When interest rates rise, then mortgage applications decline, which effects a stock. RKT has been going down, but it can bounce at $13-14. But he recommends Toll Brothers instead.

DON'T BUY

He got burned by them. Pass.

PARTIAL SELL

This has gone parabolic. Sell half your holding, though if this goes higher, that's fine too.

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