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Dan Gilbert's Rocket Companies sees massive surge on Wall Street Tuesday

Mark Lennihan/AP

A Rocket Companies sign is displayed on the exterior of the New York Stock Exchange, Thursday, Aug. 6, 2020, in New York. Shares of Rocket Companies, parent of Quicken Loans, began trading Thursday during the Detroit company's IPO at the NYSE. Quicken is the largest retail mortgage originator in the U.S. (AP Photo/Mark Lennihan)

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(WXYZ) — Dan Gilbert's Rocket Companies (RKT) saw a massive surge on Wall Street Tuesday, similar to that of the major GameStop rally in January.

RKT closed at $42.23 per share on Tuesday, up more than 71% from its opening.

It appears RKT is the target of the Reddit group WallStreetBets, which sent GameStop stock surging earlier this year.

Rocket Companies went public in August at a cost of $18 a share.

Last week, Rocket announced it had made $9.4 billion in profit and a dividend of $1.11 per share later this month for investors.

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Dan Gilbert's Rocket Companies sees massive surge on Wall Street Tuesday

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