Jim Cramer said he cannot recommend Rocket and cited a recent Fed rate hike as especially harmful, and Rocket also missed Q2 profit and sales estimates, reinforcing the negative view.
Higher interest rates raise mortgage costs and hurt loan volumes. Rocket earns fees and interest from home loans, so a Fed rate hike reduces its business. The company's recent quarter missed both profit and sales estimates, which reinforces the negative read.
Navitas announced an acquisition that expands its AI data-center power portfolio, but Cramer noted it is not making money and called it only a ‘good spec,’ leaving positives and negatives balanced.
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