Shares of Rocket, UWM Holdings rise sharply in early trade By Reuters

© Reuters. FILE PHOTO: FILE PHOTO: A banner celebrating Rocket Companies Inc. IPO is seen on the front facade of the NYSE in New York

(Reuters) – Shares in mortgage lenders UWM Holdings Corp and Rocket Companies jumped in early deals on Wednesday, building on strong gains from the previous session, which was fueled by a short squeeze on Rocket’s stock.

Rocket, parent of Quicken Loans, was up 6.2% at $44.12 in premarket trade, following Tuesday’s 71.5% surge. Its shares have doubled this week as it gained popularity on internet message boards as a short-squeeze candidate.

Shares of UWM Holdings were trading 18.8% higher at $10.85.

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