Sep. 13 at 4:04 PM
$LI In play: new model launches, battery-swapping rollout, & China’s subsidy policy. Macro headwinds—currency swings, consumer confidence, & the broader EV demand cycle—dictate most of the story. In other words, Li Auto isn’t moving the market; the market is moving Li Auto.
#RKT Rocket Companies bought Redfin, which means collaging real estate traffic with an equally interest-rate-sensitive mortgage business. BofA upgraded, hiking the target from
$21 to
$24. The case is simple: falling rates ignite both purchase & refinance volumes. Mr. Cooper merger comes with the promise of half a billion in “synergies.”
#RKT Notes: The Redfin purchase. Fifty million monthly visitors now feed into a mortgage machine already chained to rate cycles. A funnel. Falling rates. Rates down, volumes up. This is the entire “thesis.” It was true yesterday, it will be true tomorrow. Mr. Cooper promises
$500 million in “synergies.” Redfin synergies. Over
$200 million projected.
