Why Rocket Stock Soared Today

Joe Tenebruso, The Motley Fool
·2 min read
Why Rocket Stock Soared Today

Shares of Rocket Companies (NYSE: RKT) popped 9.8% on Friday after the mortgage giant delivered a blockbuster fourth-quarter report. The parent company of Quicken Loans and Rocket Mortgage made a boatload of cash in 2020 -- so much so that it announced a $1.11 per share special dividend. The mortgage leader's revenue surged 144% year over year to $4.7 billion, fueled by a 111% rise in loan originations.