Rocket Companies Inc. Stock Plunges 4.88% Amid Decline in Trading Volume

Rocket Companies Inc (RKT) stock price fell 4.88% on Jul 7, reaching an intraday low of $13.53. Trading volume was 10,058,799 shares, 72.8% of the average daily volume. Analysts forecast an average target price of $14.15, with a high estimate of $17.00 and a low estimate of $11.50, implying an upside of 4.47% from the current price. The estimated GF Value is $7.56, suggesting a downside of 44.19% from the current price.

Rocket Companies Inc. (RKT) stock price experienced a significant drop on July 7, falling 4.88% to an intraday low of $13.53. This decline came amidst a class action lawsuit against the company, which alleges materially false and misleading statements during a specific period [1].

The lawsuit, filed by The Gross Law Firm, claims that during the class period from March 29, 2021, to April 1, 2021, Rocket Companies issued false statements and failed to disclose critical information about its financial health. The allegations include contracting margins, increased competition, and misleading statements about business operations and prospects [1].

Analysts have forecasted an average target price of $14.15 for RKT, with estimates ranging from $11.50 to $17.00. This suggests an average potential upside of 4.47% from the current price. However, the estimated GF Value of $7.56 indicates a potential downside of 44.19% [2].

The company's trading volume on July 7 was 10,058,799 shares, which was 72.8% of the average daily volume. Despite the recent decline, analysts remain divided on their ratings, with an average rating of "Hold" and an average price target of $14.38 [2].

Shareholders who purchased RKT during the class period are encouraged to contact The Gross Law Firm for potential lead plaintiff appointment. The firm is committed to protecting investors' rights and ensuring responsible business practices [1].

References:
[1] https://www.morningstar.com/news/pr-newswire/20250707ny23848/shareholders-that-lost-money-on-rocket-companies-incrkt-should-contact-the-gross-law-firm-about-pending-class-action-rkt
[2] https://www.marketscreener.com/quote/stock/ROCKET-COMPANIES-INC-110535847/news/Shareholders-that-lost-money-on-Rocket-Companies-Inc-RKT-should-contact-The-Gross-Law-Firm-about-50447636/