6 Reasons Rocket Cos. Sees Itself as a Fintech Company
Ever since Rocket Cos. (NYSE: RKT) went public earlier this month, there has been debate over whether the nation's largest home lender is really a fintech or more of a traditional consumer finance company. Shares of Rocket's initial public offering were priced at $18 per share, below the company's expected range of $20 to $22 -- a sign that investors were not viewing Rocket as a tech leader.
Susquehanna analyst Jack Micenko said he doesn't see Rocket doing anything different with technology than other home lenders, and that the company could struggle to keep its current margins through the interest rate cycle. Company founder Dan Gilbert acknowledged on CNBC: "That's one of the big points of contention. We think we're a technology company that happens to do home loans."
Source Fool.com
