Insider Buying Detected In Rocket $RKT Stock

  • Post category:Business
  • Reading time:3 mins read
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We have detected insider buying in Rocket $RKT stock last week.

Insider Rocket

Rocket Companies Inc. is a holding company consisting of personal finance and consumer service brands, including Rocket Mortgage, Rocket Homes, Rocket Loans, Rocket Auto, Rock Central, Amrock, Core Digital Media, Rock Connections, Lendesk, and Edison Financial.

You would think that any company that has significant exposure to home and mortgage loans would be a bad investment right now. Maybe the stock got so cheap that insiders are like, screw it, let’s buy the stock here. Insiders could also be trying to prop up their stock with larger buy orders.

Sales have been falling as one would expect in a rapidly slowing housing market due to rising interest rates.

Rocket Sales
Last 5 Quarters of Sales

The Rocket chart is in a strong downtrend, and it’s hard to see why insiders would be buying the stock.

Rkt Barchart Interactive Chart

I’ve seen this frequently where insiders are buying stocks in strong downtrending sectors. I think it’s way too early to buy stocks in companies like Rocket, considering analysts will likely be lowering EPS estimates in the coming quarters.

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