Zillow Shock Spreads... U.S. Mortgage Giant Loses $2 Billion in a Day

Rocket Companies Inc. (RKT) closed at $18.59 on the New York Stock Exchange on the 11th, down 8.12%. Its market capitalization fell by about $1.3 billion (roughly ₩2 trillion at ₩1,450 per dollar) to around $18 billion. Trading volume topped 25.5 million shares.

The slide was part of a broader sell-off in housing-related stocks triggered by Zillow’s disappointing fourth-quarter results, which dampened investor sentiment across the sector. After Zillow’s shares plunged 19%, companies like Rocket Companies—seen as beneficiaries of the housing and mortgage markets—also came under selling pressure. Rocket Companies is slated to report its own fourth-quarter results on February 26, and Wall Street consensus forecasts earnings per share of $0.08 and revenue of $2.28 billion, implying substantial year-over-year growth.

Headquartered in Detroit, Rocket Companies is a major U.S. mortgage and fintech firm. Through its online lending platform, Rocket Mortgage, it originates retail loans directly and also distributes loans via an affiliated network of lending partners.