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Rocket Companies (NYSE: RKT), a Detroit-based holding company consisting of tech-driven real estate, mortgage and eCommerce businesses including Rocket Mortgage, Amrock, Rocket Homes and Rocket Auto was today ranked the #5 best place to work in America in Fortune Magazine's annual ranking of the "100 Best Companies
The primary catalyst for today's drop was a note by RBC Capital Markets analyst Daniel Perlin, who downgraded RKT stock to sector perform from outperform. Per that note, risk/reward in Rocket Companies stock is now more balanced, if not skewed to the downside.
Rocket Companies (NYSE: RKT) is a Detroit-based holding company consisting of personal finance and consumer service brands.
Consider buying RKT stock on the next major dip.Unlike other high-growth stocks, it also trades at a reasonable valuation. RKT stock is already up over 30% from its $18 IPO price back in August. I've been recommending that investors avoid most 2020 IPO stocks like the plague.
RockTenn (RKT) Declares $0.320525 Quarterly Dividend; 2.1% Yield.
RKT does not currently pay a dividend.
Special dividend As the Journal noted Rocket will pay such shareholders a new special and non-recurring dividend of $1.11 per share which will total about $2.2 billion.
The 2020 IPO roster included plenty of terrible stocks, but Rocket Companies (NYSE:RKT) stock was not one of them. Not only is Rocket an extremely profitable company, but it reported record profits last year. Unlike other high-growth stocks, it also trades at a reasonable valuation.