In volatile market, Rocket stock is among the heavily shorted
Susan Tompor | Detroit Free Press | January 30th, 2021
The angry online mob that hopes to watch hedge funds endure a long and painful financial death could end up rattling everyday investors along the way.
If the movement gains more steam, it has a shot at impacting some names you might never imagine, maybe even a stock like Detroit-based Rocket, should traders move on from GameStop and other names to new heavily shorted stocks.
Speculators will be trying to guess what the next GameStop or AMC Entertainment might be, according to Sam G. Huszczo, a chartered financial analyst in Southfield.
“What company could these crowd-sourced day traders target next?” he asked.
And that’s precisely why the Securities and Exchange Commission, as well as Congress, must treat the latest stock market volatility fueled by vitriol seriously.