UWMC Stock Price Increased 19.66%: Why It Happened

By Amit Chowdhry ● March 3, 2021
  • 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:

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.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.