One of the most common questions traders have about stocks is “Why is it moving?”
That’s why Benzinga created the Why Is It Moving, or WIIM, feature in Benzinga Pro. WIIMs are a one-sentence description of why those actions move.
Here’s why the shares of Rocket Companies, Nio, Xpeng, and Li Auto are moving.
Rocket Companies Inc (NYSE: RKT) shares traded 11% higher on Monday on continued strength after the company posted strong fourth-quarter earnings last Thursday and declared a special dividend. The mortgage market environment and interest from retail investors have also helped drive the action.
Rocket shares soared in the after-hours session Monday after the Detroit-based company issued a press release revealing its participation in Morgan Stanley’s Virtual Technology, Media and Telecommunications Conference. CEO Jay Farner will participate in a fireside chat beginning at 10:15 am ET Wednesday.
Rocket is trading 14% higher at $ 28 in the pre-trade session on Tuesday.
Actions of Nio Inc – ADR (NYSE: NIO) are trading lower by more than 5% after the company reported mixed quarterly results Monday afternoon, with revenue online in the fourth quarter but a larger-than-expected loss. Check out our full earnings summary here.
Nio is trading around $ 47 at press time.
Xpeng Inc – ADR (NYSE: XPEV) and Li Auto Inc. (NASDAQ: LI), the main rivals of Nio’s Chinese electric vehicle makers, are trading down 4% and 2%, respectively, in sympathy with Nio’s fourth-quarter results.
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