Rocket Companies (NYSE: RKT) is the latest company to take off this week. Could the next stop really be the moon?
Because of RKT’s meteoric ascent, more and more investors have been trying to locate the best places to buy Rocket Companies stock online.
Handily, we can help. Our team of analysts have reviewed all of the top options and have weeded them down to the two below. In addition, we have explained why Rocket Companies shares are rising in price, and what the future could hold for the mortgage player.
Where to buy Rocket Companies stock right now
If you want to invest in Rocket Companies instantly and cost-effectively, a stockbroker is the platform for you. These are services that provide retail investors with the ability to buy and sell numerous financial instrumentals, such as stocks, indexes, ETFs, forex, commodities, and even cryptocurrencies.
So, if you want to buy RKT stock in the UK or elsewhere, here are your two best options:
CedarFX is an eco-conscious broker offering 0% commission trading on 170+ assets, including Forex, Cryptocurrency Pairs, Stocks, Indices and Commodities. With up to 1:500 leverage, no-fee transactions and low spreads, traders can make the most of their funds. CedarFX also offers an Eco Account option to support tree planting and sustainability projects.
eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, ETF’s, indices and commodities. eToro users can connect with, learn from, and copy or get copied by other users. Buying stocks on eToro is free and you can invest with as little as $50.
What is Rocket Companies?
Founded in 1985 and headquartered in Detroit, Michigan, it is a tech-driven company that provides industry-leading real estate, mortgage and financial services. With 24,000 team members around the world, RKT has grown rapidly in recent years.
Why is RKT stock on the rise?
Because of a social investing craze that was first deployed back in late January by the Reddit community, WallsStreetBets. Back then, Rocket Companies stock was targeted, rising 70% in value in a single day.
In the last few weeks, this phenomenon has returned dramatically, driving the values of numerous stocks, including RKT, to impressive, elevated levels.
Should I buy RKT stock?
If you are a fan of the management team, and you believe in RKT’s ability to provide simple and fast digital solutions to complex financial problems, it could be a company to consider more closely.
However, make sure you are aware that RKT shares are currently disconnected from their true, fundamental value and volatility seems inevitable. If you don’t mind exposing yourself to the heightened risk, getting involved now could be a good opportunity ahead of any dramatic upwards price swing.
RKT price prediction
As we said, Rocket Companies is currently trading based on sentiment rather than fundamentals, so while it wouldn’t be impossible to generate an RKT price target based on technical metrics, the unpredictability of Reddit investors could well betray it.
Suffice to say, we expect some significant upwards action in the short term. Make sure to do your own research to get an idea of where things stand.