RKT stock has rallied 47.7% YTD, and short interest now sits at a record $1.04 billion.
Will a positive earnings trigger a short squeeze, lifting both the stock and memecoin?
Excitement surrounding Rocket Companies’ Q2 earnings has spilled into crypto. But it is not because retail investors are scooping up RKT stock.
Instead, in true degen fashion, traders spun up an RKT-themed memecoin, betting it might pull a GME 2.0 once the earnings hit.
In this piece, CCN asks the question: Can the memecoin moonshot like GameStop, or is this another flash-in-the-pan?
We also break down what to expect from Rocket’s actual earnings and how the numbers could steer both Wall Street’s favorite mortgage play and its crypto-fueled twin.
Q2 Earnings Ignite RKT Hype
For the uninitiated, Rocket Companies is a fintech-meets-real-estate giant trading on the NYSE. It drops its Q2 2025 earnings on July 31.
Ahead of the report, RKT stock has been on a heater, chalking up five straight green sessions. Currently, it’s trading at $16, up 47.7% year-to-date.
Across social platforms, analysts are betting that the company’s Q2 earnings will beat expectations, possibly topping its Q4 2024 revenue of $1.77 billion, which already marked a 30% year-on-year jump.
Try Our Recommended Crypto Exchanges
Sponsored
Disclosure
We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
That quarter also saw a GAAP net income of $649 million. This was mainly due to Rocket’s acquisition of Redfin and its deal to buy Mr. Copper, which is set to close by Q4 2025.
Still, it hasn’t all been moon missions. In Q1, Rocket posted a $212 million GAAP loss with revenue sliding to $1 billion.
But this time, the RKT stock’s rally is rewriting the mood. Traders are betting the rebound hints at more substantial revenue in Q2.
As a result, degenerates have front-run the hype, piling into the RKT memecoin built on BonkFun, hoping it will catch the earnings wave.
Why? Simple. GME and RKT have been associated with retail investor-driven market movements, especially during the height of the “meme stock” phenomenon that began in early 2021.
Last year, the positive GameStop earnings pushed Degens to create a GME memecoin whose market cap hit $40 million in November. As of this writing, the RKT meme coin trades at $0.000079 and has a market cap of $80,000.
From CCN findings, there is a balance between buyers and sellers of the RKT meme coin. Hence, it is uncertain whether it will replicate the GME style.
But there is a twist. At press, the RKT stock short interest has exploded, hitting an all-time high of $1.04 billion.
That represents 49.88% of the float and indicates that nearly half the tradable shares are shorts.
If earnings surprise to the upside, we’re looking at a prime short squeeze setup, potentially driving the RKT price higher. If this happens, the RKT memecoin might light up as well.
From a technical standpoint, things are heating up. On the daily chart, RKT stock has broken out of a cup-and-handle pattern.
The breakout suggests momentum’s flipping hard in the bulls’ favor, right as earnings hype and short interest hit critical mass. The Chaikin Money Flow (CMF) has risen above the zero signal line.
Also, for the first time since June 27, the Awesome Oscillator (AO) has flashed a green histogram bar, indicating bullish momentum.
If that trend continues, RKT’s price might break the resistance at $18.96 and rally toward $28.36.
If validated, this could also drive higher values for the RKT meme coin. However, if the Q2 earnings report is disappointing, the stock might tank, and the RKT memecoin might also decline.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
