Diamonds and Dogs
Rocket Companies (RKT) is up like a rocket. The parent company for the largest mortgage lender in the US is up 13% after coming public yesterday. Founder, Dan Gilbert said they wanted to come public to use their stock as a currency for potential acquisitions of fintech companies. Following the IPO, Mr. Gilbert is now worth over $30 billion.
Uber (UBER) still losing billions. The ride-hailing giant is down 5% following disappointing earnings. Sales fell 29% to $2.24 billion as earnings, or lack there of, came in at a $1.78 billion loss. The company expects to make meaningful progress toward probability. They better. You can't keep losing billions.
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