RKT - These 2 Former High-Flying Stocks Are Falling With the Market Wednesday Morning
The stock market has been falling steadily for weeks, and Wednesday morning didn't bring immediate relief. News that the U.S. consumer price index (CPI) rose 0.3% in April with core figures climbing at a faster pace led to a reversal in futures markets. As of 9 a.m., futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were down 100 points to 31,987. S&P 500 (SNPINDEX: ^GSPC) futures had dropped 20 points to 3,976, while Nasdaq Composite (NASDAQINDEX: ^IXIC) futures were down 114 points to 12,235.
Even with news that was encouraging for the market overall, investors continued to see substantial declines in several stocks reporting their latest financial results. Rocket Companies (NYSE: RKT) and Fiverr International (NYSE: FVRR) were among stocks seeing significant drops on Wednesday morning. Here's more about what made them lose ground and what their longer-term prospects look like.
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These 2 Former High-Flying Stocks Are Falling With the Market Wednesday Morning