So I am looking for some information on why investors are thinking RKT is a good buy right now. I see some technical that suggest it might be, but from a fundamental standpoint and economical standpoint I feel this company is a short.
This company has negative earnings and is in a highly competitive market. True there is talk about interest rates dropping. But after interest rates have been below and around 3% for about two years on a 30 year mortgage most people are locked into a lower interest rate and won't be refinancing. So then its going to be new home buyers which are having to compete with higher interest rates and lower supply of housing causing most of them too not be able to purchase. This in my opinion means the mortgage market will be extremely competitive to get the low supply of contracts. If interest rates were going to really help this company why didn't it sky rocket during the pandemic when all mortgage companies were going bonanzas? I feel like this should be a short. So I would like to hear what other investors are thinking below. I don't want to buy or short just yet. Just looking for opinions. I am not an expert and don't use my information to decide on your trades.
This company has negative earnings and is in a highly competitive market. True there is talk about interest rates dropping. But after interest rates have been below and around 3% for about two years on a 30 year mortgage most people are locked into a lower interest rate and won't be refinancing. So then its going to be new home buyers which are having to compete with higher interest rates and lower supply of housing causing most of them too not be able to purchase. This in my opinion means the mortgage market will be extremely competitive to get the low supply of contracts. If interest rates were going to really help this company why didn't it sky rocket during the pandemic when all mortgage companies were going bonanzas? I feel like this should be a short. So I would like to hear what other investors are thinking below. I don't want to buy or short just yet. Just looking for opinions. I am not an expert and don't use my information to decide on your trades.
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