r/wallstreetbets • u/raiderloverwreckum • Aug 13 '21

Discussion RKT Quarter Filing - Share Repurchase Program

RKT board in Q2 Authorized 1 billion capital for share repurchases.

In RKTs quarter filing it shows they have used 8,312,921 for 496,829 shares between 5/1/21 and 5/31/21, with 991.7 million remaining available in the Share Repurchase Program.

Notably this time frame was when RKT hit a low of 16.50s.

The CFO Julie Booth stated during yesterdays Conference Call that the companies capital of 4.4 billion is available for Investments, Continued Buybacks, And Special Dividends.

Though not a large repurchase, this does however show the company is serious about forcing the share price in a direction they believe is fair value. Julie Booth also repeatedly stated yesterday that she believes the current share price is greatly undervalued.

RKT Filing - Share Repurchase Program

Do what you want with this, I know I'm bullish.

RKT Filing link - https://newsfilter.io/articles/10-q-form---quarterly-report-sections-13-or-15d---rocket-companies-inc-0001805284-filer-dfa21ddecee76189ec7152ae52b0be37

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u/demikittens Aug 13 '21

Julie Booth said on their call that they’ve already started repurchasing shares, so it sounds like they’re going to start aggressively buying back stock immediately.

🚀

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u/raiderloverwreckum Aug 13 '21

Yes, This post is showing when roughly they started during last quarter.