Shares of Rocket Companies (RKT) surged 5.08% in after-hours trading on Thursday, following a significant disclosure by Soros Fund Management. The investment firm, founded by billionaire George Soros, reported a new stake in the mortgage lending giant.
According to the latest regulatory filing, Soros Fund Management has acquired 360,400 Class A shares of Rocket Companies. This move by the renowned investment firm appears to have sparked investor interest, driving the stock's after-hours rally.
Rocket Companies, known for its flagship business Rocket Mortgage, has been navigating a challenging environment in the housing market amid rising interest rates. The vote of confidence from Soros Fund Management could signal potential value in the company's stock, despite the current market headwinds in the mortgage industry.
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