We recently published 10 stocks that investors are abandoning. Rocket Companies Inc. (NYSE:RKT) had one of the worst results on Monday.
Rocket Companies extended its losing streak to a third straight day on Monday, losing 4.83 percent to close at $16.94 apiece, as investors continued to digest the completion of its $14.2 billion acquisition of Cooper Group.
Last Wednesday, Rocket Companies Inc. (NYSE:RKT) announced that it has officially merged with Cooper Group, bringing together one of the leading mortgage and home loan servicing providers in the U.S.
Following the news, shares of Rocket Companies Inc. (NYSE:RKT) began to fall and have already lost 13.5 percent in just the last three trading days.
The drop may also have been influenced by a leadership change at Rocket Mortgage, with Cooper CEO Jay Bray emerging as its new president and CEO, reporting directly to Rocket Companies Inc. (NYSE:RKT) CEO Varun Krishna. Bray will also join the board of directors of the publicly traded company.
Lastly, part of the acquisition will also rebrand Mr. Cooper and all of its service functions to those under the Rocket umbrella.
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Disclosure: None. This article was originally published in Internal jumpsuit.