Rocket Enterprises (RKT) drops again on day 3 due to new developments

We recently posted 10 stocks that investors are getting rid of. Rocket Companies Inc. (NYSE:RKT) was one of the worst performing companies on Monday.

Rocket Companies extended its losing streak for a third straight day on Monday, falling 4.83 percent to close at $16.94 apiece, as investors continued to digest the completion of its $14.2 billion acquisition of Mr. Cooper Group.

Rocket Companies Inc. (NYSE:RKT) announced last Wednesday that it has officially merged with Mr. Cooper Group, bringing together one of the leading home loan and mortgage servicers in the United States.

Following the news, shares of Rocket Companies Inc. (NYSE:RKT) is on the decline, already losing 13.5 percent in just the past three trading days.

The decline may also be influenced by a leadership change at Rocket Mortgage, with Cooper CEO Jay Bray emerging as the company’s new President and CEO, reporting directly to the CEO of Rocket Companies Inc. (NYSE:RKT) Varun Krishna. Bray will also join the listed company’s board of directors.

Finally, part of the acquisition will also be the rebranding of Mr. Cooper and all its service functions to those under the Rocket umbrella.

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Read next: 30 stocks should double in 3 years and 11 Undercover AI Stocks You Can Buy Now.

Disclosure: None. This article was originally published on The monkey inside.