- The stock price of UWM Holdings Corporation Class (NYSE:UWMC) increased by 19.66% on March 2. This is why it happened.
The stock price of UWM Holdings Corporation Class (NYSE:UWMC) increased by 19.66% on March 2. Investors appear to be responding to a couple of catalysts.
One of the catalysts involves the company announcing it is going to be included in the Russell 1000 and Russell 3000 indexes. Here is a tweet that the company wrote about this milestone:
We are happy to announce that $UWMC has been included in the preliminary list of IPO additions for the Russell 1000 and Russell 3000 indexes.
— United Wholesale Mortgage (@UWMlending) March 2, 2021
There may also be a sympathy play as UWM completes against Rocket Companies. And Rocket Companies saw its stock price increase 71.19% yesterday, largely due to a short squeeze driven by the Reddit community.
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