Sep. 13 at 5:40 PM
$SHOP As with other e-commerce & tech names, a single miss on earnings or guidance can trigger an outsized selloff. Shopify trades less on what it is today & more on what investors want it to become.
#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. Allegedly from cost cuts & cross-selling. EPS boost. Analysts raised 2026 EPS forecasts by 11%.
