Stocks On the Rise: 10 Best Stocks to Buy Right Now

6) Rocket Companies, Inc. (NYSE:RKT)

% Gain on a YTD Basis: ~42.8%

Market cap as on March 6: ~$30.9 billion

Number of Hedge Fund Holders: 30

Rocket Companies, Inc. (NYSE:RKT) is a Detroit-based fintech platform company, which includes mortgage, real estate and personal finance businesses. FY 2024 was a foundational year for the next chapter of the company, given the expansion of its purchase market share. The purchase market share saw a growth of 8% YoY in 2024, aided by strategic optimizations throughout its processes, teams, marketing, and technology—cementing its ability to serve a greater number of homebuyers and drive sustainable growth.

Rocket Companies, Inc. (NYSE:RKT) also drove significant operating leverage, and continued building the future of homeownership. The company’s focus on AI-driven processes is expected to help it achieve long-term growth. Rocket Logic, the company’s proprietary AI-driven loan origination system, continues to transform client interactions and underwriting efficiency, enabling retail bankers and operations teams to serve 54% more clients in Q4 YoY. In 2024, automation in mortgage qualification alone saved more than 1 million hours of team member time, resulting in the generation of $40 million in efficiency gains.

Seven Corners Capital, an investment management company, published its Q3 2024 investor letter. Here is what the fund said:

“Rocket Companies, Inc. (NYSE:RKT), 9% position (Cost Basis: $8.24)

Rocket Companies, which was up 32% YTD in 2024, represents the newest large position in the SCC Composite Portfolio, having been purchased in December 2022. RKT represents a play on a future decline in mortgage rates if and when inflation becomes subdued again.

RKT shareholders should take a measure of comfort in the fact that the company is ultimately helmed by founder Dan Gilbert. who owns 1.85 billion shares of stock (on an as-converted basis) through Rock Holdings Inc.”