Short-sellers lost $813 million on Rocket Companies on Tuesday: Ortex

By Reuters Staff

FILE PHOTO: A screen displays the logo of Rocket Companies (RKT), the parent company of Rocket Mortgage and Quicken Loans, in Times Square during the company's IPO on the New York Stock Exchange (NYSE) in New York City, New York, U.S., August 6, 2020. REUTERS/Mike Segar

LONDON (Reuters) - A surge in the shares of U.S. mortgage provider Rocket Companies on Tuesday is estimated to have inflicted losses of $813 million on short-sellers, data from financial analytics firm Ortex showed.

Rocket’s shares jumped 71% on Tuesday as the stock drew interest on Twitter and Reddit’s popular WallStreetBets.

Ortex estimated that 45% of Rocket’s freefloat was shorted.

Reporting by Thyagaraju Adinarayan; editing by Sujata Rao

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