Good News Surrounds The Quicken Loans IPO (Pending:RKT
published 31.07.2020 19:21
Investors should hope that Rocket Companies becomes more profitable down the future, but it is highly profitable compared to most IPOs.
Low interest rates will attract home buyers and those wanting to refinance, and Rocket Companies has the size, history, and numbers to keep growing.
Rocket states that this particular increase is due to "generally favorable market conditions and the low interest rate environment which led to increased demand for mortgages and capacity constraints in the industry," which touches upon the above observation that conditions are favorable for the company.
Now Rocket Companies (NYSE:RKT), the parent company of Quicken Loans, seems set to follow that pattern with the largest non-SPAC IPO this year.
Rocket Companies is a company which stands to benefit from trends created by the coronavirus such as continued low interest rates and a greater emphasis on online business.