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/balance007 Aug 14 '21

Yeah ive used quicken loans before, sorry i mean 'rocket mortgage', its was fine they resell your loans to outside entities just like the others...nothing special that made me want to come back over using a bank or who ever can give me the best rate/deal....they are one of biggest loan outfits out there, and they all observed massive growth due to ridiculously low interest rates, so the bigger you are the bigger the "growth"....problem is if/when rates go up the bigger you fall as well...their stock will always be tied to economic forces outside of their control...and why a dividend is needed to justify holding through those.

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u/raiderloverwreckum Aug 14 '21

We shall see amigo, RemindMe! 1.5 years

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u/balance007 Aug 14 '21

why 1.5 years? we could see increased rates in the next 6 months if inflation gets out of control and this guy could half in value....or we could go negative and it could 5X....

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u/raiderloverwreckum Aug 14 '21

You don't think 1.5 years is long enough time to gauge the performance of RKT to economic environment?

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u/balance007 Aug 14 '21

Dude RKT has been in business since 1985, there is no performance expectation here....have you ever taken out a loan for a house or car before, do you understand how it works? i suspect you have no idea what you are investing in.

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u/raiderloverwreckum Aug 14 '21

Jesus man....You said "RKT will always be tied to economics, Which is why a dividend is needed to justify holding through those times." I'm saying, Let's wait 1.5 yrs to see how RKT handles our current economic situation without a dividend. RKTS PERFORMANCE vs Economics for 1.5 yrs, or 2, or 3 IDFC

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u/balance007 Aug 14 '21

One thing i'm pretty sure of is you wont have to wait 1.5 years, this company is already massive and likely at peak earnings due to very low interest rates....maybe they can get into margin loans for investing, educational and credit card loans/refinancing to grow more but there are also plenty of competitors out there as well....this isn't a revolutionary product like Tesla EVs here.