Up 90 over the last three days just Absolutely surging today No absolutely and there's a business Reason you might say For why this rally got started you know Raqqa Came out with fourth quarter results you Know earnings beating endless average Estimate the bloomberg survey by 30 revenue coming out ahead by 20 And on top of that uh rocket declared a Special dividend of a dollar eleven a Share so that kind of touched things off You know on friday the stock was up About 10 On monday up 11 and then today I mean it's just kind of gone Stratospheric you might say And there are a couple of things going On i mean one is certainly the Continuation of what we saw the past two Days And the other may well be people Realizing that this is a company that Investors have been Betting against you know short interest Has been on the rise this year Along with interest rates you figure a Mortgage lender you know would have uh Difficulty because of maintaining growth At a time You know when interest rates are going Up and therefore home loans are getting More expensive
So you know in the middle of february 38 Of racket shares available for trading Had been borrowed and sold or sold short And we got numbers from s crete partners Which provides more up-to-date Information That puts the figure at 46 so what Happens You know the reddit traders get on the Numbers like this And they start pushing the shares higher To squeeze the shorts So i mean they're certainly you know why Were they shorting though dave i mean i I mean my general understanding is the Company was doing relatively well we Know The mortgage industry as a whole has Been on fire is there something more Here as to why people would be negative On the stock Well it might well be romaine just kind Of figuring that the company would Struggle to maintain the kind of growth That has had But you know as far as what they had to Say the other day with their quarterly Results it doesn't seem like that's the Case You know they're talking about you know The dollar value of loans this quarter Possibly Doubling from a year ago and that's Loads that they close on
You know as far as investors locking in Rates you know you're talking about an Increase that may be as high as 70 Percent And they expect to gain more when they Sell the loans to investors so You know it's just not playing out so Far at least The way the short sellers might have Anticipated and now you have people Trying to take advantage of the fact That so many Uh shares have been sold short in Anticipation of the client you're Getting the opposite now
