This would value the company at about $36 billion. The Detroit-based company that includes Quicken Loans will put its initial public offering on the New York Stock Exchange under the symbol RKT. Under the terms of the merger arrangement, United Wholesale will hold 94% of the combined company, which … The stock is expected to make its NYSE debut on Thursday morning. Rocket Cos. Inc. stock rises Tuesday, outperforms market. Create one. Rocket intends to trade on the New York Stock Exchange under the ticker RKT. |. Rocket Companies Inc (NYSE: RKT) shares initially spiked from the $18 IPO price to as high as $26.86 last week, but the stock has since come back down to within $1 of that IPO … It also offers performance tracking of past IPOs. With a core focus on innovation and execution, Quicken is looking to bring increased efficiency and value to the lending space. Rocket Companies Inc. RKT 19.72 0.37 (1.91%). Nov. 24, 2020 at 9:05 p.m. Eight IPOs and one SPAC are scheduled to raise $4.8 billion in the week ahead, with Rocket Mortgage parent Rocket Companies (RKT) slated to complete the year’s … Yucaipa Acquisition, (YCAIQ), Blank Check, $10.00, BigCommerce, (BIGC), Ecommerce, $18.00 - $20.00, IPOs On TheStreet Opinion: BUY - Read It, Rackspace Technology, (RXT), Enterprise IT, $21.00 - $24.00, IPOs On TheStreet Opinion: NEUTRAL - Read It, GO Acquisition, (GOAC.U), Blank Check, $10.00, Acutus Medical We believe our widely recognized "Rocket" brand is synonymous with providing simple, fast, and trusted digital solutions for complex personal transactions.” - S-1. Gores Holdings IV's IPO was in January. The IPO's proceeds will be used to finance business purchases and stock from Rocket's existing holding company, Rock Holdings Inc., owned by founder and majority shareholder Dan Gilbert. Shortlink: https://sec.report/T/RKT: Reporting File Number: 001-39432: Fiscal Year End: 12-31: Date of Edgar Filing Update: 2020-08-06: SIC: 6162 [MORTGAGE BANKERS & LOAN CORRESPONDENTS] The calendar date referenced for each IPO is the expected pricing date. Quicken’s over 3,500-plus bankers and technology experts help democratize access to homeownership, allowing serviced communities a clear shot at financial independence and wellness. The firm has invested heavily in philanthropic initiatives and is credited with rebuilding Detroit’s inner city, empowering the local community with a platform to build. Pre-Market 0.10 (0.51%) The firm considers itself a technology company that happens to focus mainly on the mortgage industry. We are committed to providing an industry-leading client experience powered by our award-winning culture and innovative technologies. Don't have a Benzinga account? To receive automatic notification of new IPO activity, click the "+ Follow" link at the top right of the page. Benzinga does not provide investment advice. “The traditional mortgage application process requires manual interactions and a complex series of data-intensive transactions. , (AFIB), Medical Devices, $16.00 - $18.00, IPOs On TheStreet Opinion: BUY - Read It, Oak Street Health IPO Calendar: August 3 - 7, 2020. RKT stock forecast If investors missed their opportunity to scoop up some shares of Rocket Companies during its frenzied IPO debut, they can do so now at basically the same price. "The cut in the deal price in particular seems a reaction to the poor performance of larger U.S. domiciled companies which have recently gone public," according to Josef Schuster, CEO for IPOX Schuster in Chicago. Shares in the mortgage originator have swung wildly from its $18 IPO price to almost $29 (and then back down again) as investors have second-guessed the value of RKT … During the day the price has varied from a low of USD$19.73 to a high of USD$20.13. On Tuesday, Rocket set the terms for the IPO. About: Rocket Companies, Inc. (RKT), Includes: BAC. © 2021 Benzinga.com. Smart money knows this is not a 1 year stock. Author: Under the proposal made public Tuesday, Quicken founder Dan Gilbert would retain a controlling stake in Rocket Companies via a multi-tiered stock … Yahoo's finance portal has a dedicated IPO section with details on the IPO date, symbol, price, and links to IPO profiles and news items. |. IPO stocks can be very volatile in the days immediately after an IPO. , (RKT), FinTech, $20.00 - $22.00, IPOs On TheStreet Opinion: BUY - Read It, IBEX Limited, (IBEX), Outsourcing, $20.00 - $22.00, IPOs On TheStreet Opinion: BUY - Read It, Freeline Therapeutics, (FRLN), Biopharma, $16.00 - $18.00, IPOs On TheStreet Opinion: BUY - Read It, Checkmate Pharmaceuticals, (CMPI), Biopharma, $14.00 - $16.00, IPOs On TheStreet Opinion: BUY - Read It, Harbor Custom Development, (HCD), Real Estate, $6.00 - $8.00, IPOs On TheStreet Opinion: NEUTRAL - Read It, Vistas Media Acquisition, (VMACU), Blank Check, $10.00, Opinion: N/A, _______________________________________________________________________. Rocket Mortgage Parent Files IPO, Plans to List on NYSE Under Ticker 'RKT' Article Stock Quotes (1) Comments (0) FREE Breaking News Alerts from StreetInsider.com! Estimated trading value over the next three to five years is $48 to $221. This will continue to drive efficiency for our team members and bring certainty to our clients.”. Earnings announcement* for RKT: Feb 09, 2021 Rocket Companies, Inc. is estimated to report earnings on 02/09/2021. , (OSH), Healthcare Svcs., $15.00 - $17.00, IPOs On TheStreet Opinion: BUY - Read It, Rocket Companies On Wednesday evening, Detroit-based Rocket Companies (NYSE: RKT), home to Quicken Loans, the nation's largest retail mortgage lender, priced its 100-million share … All rights reserved. It is selling 150 million shares at … Underwriters include Goldman Sachs, Morgan Stanley and Credit Suisse. Rocket stock began trading on the New York Stock Exchange about 11 a.m. opening at the IPO price of $18 a share. This does not factor in any multiplies (or foreword pricing). The lock-up period expiration must be reached before selling activity can take place, the quiet period expiration date must be reached before buying can take place. Rocket Companies, Inc (RKT) is a leading mortgage finance business based in the US. The intrinsic value of this via its net equity at 3.3B makes this IPO worth $33-36 per share. According to the firm’s filing with the Securities and Exchange Commission, Quicken is working on a new technology, RocketLogic, which will automate underwriting and streamline loan origination. “RocketLogic leverages data and asks dynamic questions, resulting in clients closing their mortgage faster and with greater accuracy. Adding, the IPO is just a milestone in the company’s aim to revolutionize finance, a natural extension of the firm’s core ISM: numbers and money follow; they do not lead. Although both the lock-up period expiration date and the quiet period expiration date are used to help prevent abnormal stock returns, they happen at different times in the IPO process. Twelve IPOs are currently scheduled for the week of August 3 - 7, 2020. No date was given for the proposed IPO. Twelve IPOs are currently scheduled for the week of August 3 - 7, 2020. On Wednesday evening, Detroit-based Rocket Companies (NYSE: RKT), home to Quicken Loans, the nation's largest retail mortgage lender, priced its 100-million share IPO offering at $18 per share. The stock trades under the ticker RKT. Find the latest Rocket Companies, Inc. (RKT) stock quote, history, news and other vital information to help you with your stock trading and investing. Rocket Companies (NYSE: RKT) stock price has come back down to earth after a successful initial public offering (IPO).Rocket stock nearly doubled in price after its Aug. 6 IPO… RKT, Rocket Companies Inc - Stock quote performance, technical chart analysis, SmartSelect Ratings, Group Leaders and the latest company headlines The application doesn't give a date for the initial public offering or the price per share. Last month, Rocket Companies said it had planned to raise as much as $3.8 billion by selling 150 million shares at a target offering price range of between $20 and $22. These transactions involve carefully filing and cataloging thousands of pages of documents from over a dozen entities, using incompatible systems and disjointed databases,” the filing said. Though focused on generating revenue to achieve a fair return, Rocket, alongside the Family of Companies, is also concerned with legacy and impact. Why Rocket Companies Stock May be Poised to Blast Off marketbeat.com - December 7 at 2:17 PM: 3 Stocks Under $50 to Buy Now (RKT) marketbeat.com - October 9 at 7:49 PM: Rocket Companies IPO Has Launched…Will the Stock Blast Off marketbeat.com - September 10 at 9:14 PM: Rocket Companies (NYSE:RKT) Tries To Lift Off After Earnings Update (RKT) By creating an account, you agree to theTerms of Service and acknowledge our Privacy Policy. Read Next Tesla stock approaches $900 in … The trading date is usually the following day. IPO Index (IPOUSA) 5d 1m 3m YTD 1y All RKT Renaissance IPO Index Sep.2020 Oct.2020 Nov.2020 Dec.2020 0% + 50% + 100% -50% www.renaissancecapital.com as of 12/17/2020 IPO Pro - 'The Ultimate Resource for IPOs' Don't risk buying another IPO without IPO Pro. After Rock Financial went public in 1998, it was bought by Intuit Inc (NASDAQ: INTU) where the name was changed to Quicken Loans. In 2002, Gilbert, among other investors, purchased the company back. (I have no position in any stocks mentioned as of the article date, no plans to initiate any positions within the next 48 hours, and no business relationship with any company whose stock is mentioned in this article. “We are a Detroit-based company obsessed with helping our clients achieve the American dream of home ownership and financial freedom. 28, 2020 5:56 PM ET. Today, after more than a decade of exponential growth in accordance with ISMs, foundational principles put in place by the Rock Family of Companies, Quicken Loans has become a national lending empire, clearing $5.1 billion in total revenue in 2019. Rocket Companies, the parent company of Quicken Loans and Rocket Mortgage, on Wednesday priced its initial public offering at … The stock was gaining ground and trading around $18.65 a … Initial Public Offering pricing date. It will offer 100 million shares at $18 each. Information provided is for educational purposes only, may be in error, incomplete or out of date, and does not constitute financial, legal, or investment advice.). In 1985, Quicken Loans started out as Rock Financial, a firm built from the ground up by Gilbert. I can’t stress this enough, but purely by the financials of this company. IPO Update: Rocket Companies Prepares For $3 Billion IPO. To learn more about how Rocket’s culture of excellence will revolutionize financial services, visit www.rocketmortgage.com. Despite the strong results, the stock fell 15% as investors seemed disappointed with the guidance, which called for closed loan volume to jump 105% to … Jul. Posted-In: Dan Gilbert Quicken LoansFintech News IPOs Top Stories Exclusives After-Hours Center Best of Benzinga, Rocket Mortgage Super Bowl Squares Sweepstakes Are Back And Bigger Than Ever, 'Fast Money Halftime Report' Picks For December 29, PreMarket Prep Stock Of The Day: Rocket Companies, Benzinga's Top Upgrades, Downgrades For December 18, 2020, Bestow CEO Talks Booming Insurtech Business, Transformative Centurion Acquisition, Pete Najarian Sees Unusual Options Activity In Spirit And Rocket Companies, Privacy Policy / Do Not Sell My Personal Data. IPO … The company's CEO will continue to be Jay Farner, who’s been with Quicken for over 20 years. 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