Rocket Companies Stock Skyrockets | REDDIT Short Squeeze? 3-3-21

Rocket Companies Stock Skyrockets | REDDIT Short Squeeze? 3-3-21

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TOP STOCKS TO BUY NOW

Trading Game Plan: 3-3-21

Rocket Companies stock skyrockets

Shares of Rocket Companies Inc. RKT, +71.19% blasted 74.4% higher on very heavy volume in afternoon trading Tuesday, enough to pace all gainers on major U.S. exchanges, and put them on track for a record close.

S3 Analytics said there has been a "large amount of short selling" into the stock's (RKT) recent rally, with short interest increasing to 47.9 million shares, or 45.8% of the public float. "RKT's stock price and short selling activity is reminiscent of another recent highflying 'meme' stock -- GameStop Inc. GME. Source:

Rocket Companies Overtakes GameStop, Palantir As WallStreetBets' Top Interest

The stock market sits near all-time highs but feels anything but obvious.

So if you're finding the last few weeks frustrating, it's not you. The tape has challenged the patience of the best of us. But the right thing to do is preserve capital for only the best ideas.

In a roaring bull market pretty much everything goes up, that's not what we're in.

But that doesn't mean there's nothing to do. Each week we're game planning solid ideas. You just need the discipline to avoid chasing stocks because you're bored.

RKT hit the short squeeze play button and appears ready to give active traders a fun ride. (Avoid this if you're a new trader, it's not worth the risk if you're still learning how to trade)

Cruise lines, airlines and streaming networks are in the game plan this week. I'm focusing on these four stocks: FOXA, DIS, CCL, SPR.

In today's video we review over a dozen stock picks for today.

Pete

Pete Renzulli
 

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