UWMC - UWM Holdings stock reverses from post-Q4 jump as down trend continues

UWM Holdings (UWMC -6.2%) stock backtracks from gains made after it announced an accelerated stock buyback on Tuesday and issued strong Q1 guidance even as its Q4 results missed consensus. Before Thursday's open, UWMC stock had gained 7.1% since it reported Q4 results and the buyback on Tuesday. For some context, UWM Holdings' (NYSE:UWMC) shares have dropped 49% over the past year as the prospect for higher interest rates boost mortgage rates, which makes it more expensive to buy a home. Shares in Rocket Companies (RKT +0.1%), which operates Rocket Mortgage, have slumped 67% during the same period. See chart here. Even with the two-day 7% gain, UWM Holdings (UWMC) stock was still 33% below its 200-day simple moving average and 23% below its 100d SMA. So far, mortgage rates are still relatively low. For the week ended March 3, the 30-year fixed rate mortgage averaged 3.76%, down from 3.89% in

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UWM Holdings stock reverses from post-Q4 jump as down trend continues