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Michigan and Mortgages Have Something to Like About Reddit’s r / WallStreetBets subreddit, Flints UWM Holdings (NYSE: UWMC) is up more than 24% in pre-market trading, this move following the 19 of UWMC stock’s 7% gain on Tuesday, as the volume was four times the daily average

UWM Holdings, better known as United Wholesale Mortgage, has a market cap of more than $ 16 billion after it went public in January in a merger with blank check company Gores Holdings IV as part of its largest-ever public purse was brought corporate transaction (SPAC)

In the transaction, UWM received approximately $ 895 million, including approximately $ 395 million in cash from Gores and $ 500 million in proceeds from the private placement completed in connection with the merger

It was about this time yesterday when we got the shares of Detroit’s Rocket Companies (NYSE: RKT), another mortgage lender, in motion prior to entering the market. RKT stock closed the day 712%, leading Short position research firm, S3 Partners, Warns Customers “Rocket Shorts Crash And Burn”

Short interest in UWMC shares is increasing at a ratio of 19 days, or 1321% of the float, as of Feb. 12

The company also announced on social media yesterday that it was considering being included in the newly minted stocks for the Russell 1000 and Russell 3000 indices

As a mortgage originator, UWM has a lot at stake in terms of interest rates and 10 year U. Treasury bills, specifically The yield on these bonds rose to more than 16% last week was 1458% yesterday

This level could be enough for investors to gain some confidence in the state of the home finance market in the coming weeks and months. Any slip is a good omen for potential home purchases and refinancing

At the time of publication, Robert Lakin held (neither directly nor indirectly) positions in the securities referred to in this article

InvestorPlace employee Robert Lakin is a seasoned finance writer and editor after fintech, agtech and property tech startups

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World News – USA – UWMC Share: Can r / WallStreetBets RKT Rival send UWM to the moon?