Rocket Mortgage parent's stock rocked by analyst's sell call

Shares of Rocket Cos. tumbled Wednesday toward their worst day in 14 months after Keefe, Bruyette & Woods analyst Bose George turned bearish, citing valuation and the company’s weakness in the home-purchase market. Rocket Cos. is the parent company of Rocket Mortgage.“We expect mortgage volumes to remain weak in 2024, but to the extent they come in stronger than currently expected, higher volumes are likely to be driven by a stronger purchase market,” George wrote in a note to clients. “We believe that [Roc ...