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Why Cramer Says A Biden Win Is Bullish For Rocket Companies

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Why Cramer Says A Biden Win Is Bullish For Rocket Companies

On Thursday’s "Mad Money" show, host Jim Cramer highlighted Rocket Companies as a good stock to own in response to a caller.

Cramer On Rocket Companies: The caller asked Cramer’s thoughts on Rocket Companies Inc (NYSE: RKT) going into earnings next week.

The caller said they bought shares in the $17 to $18 range and believe the increased mortgage numbers will help with earnings.

Cramer said Rocket Companies is a “very well-run company.”

The Detroit-based mortgage lenders are “much better lenders than traditional lenders in terms of defaults,” the CNBC host said. 

Cramer’s catalysts for the stock are low interest rates, an exodus of people moving from the city to the suburbs and a Joe Biden win in the presidential race. 

“There’s going to be a wave of immigration,” he said. 

Related Link: Rocket Mortgage, Mint Partner On Refinancing Tech: What Investors Should Know

What’s Next: Rocket Companies will report quarterly earnings on Nov. 10 after the market close.

“This might be a perfect stock to own,” Cramer said.

RKT Price Action: Shares of Rocket Companies were up 1.72% at $21.31 the close Friday. Shares have traded between $17.50 and $34.42 since going public earlier this year.

 

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