Late August 2026 Random Ramblings
Higher rates could compress equity multiples and raise AI data center lease costs, while UWMC and Cogent raise questions about CEO-driven…
NYSE
UWM Holdings Corp
UWMC
5 stories
$2B Market cap · 2026-10-12
Late August 2026 Random Ramblings
Higher rates threaten equity multiples and AI data-center economics, while UWMC and Cogent raise questions about CEO-driven capital…
$UWMC lost $600m hedging a deal they'd already lost
UWMC booked a roughly $600 million Q2 hedging loss tied to TWO months after the deal collapsed, contributing to an expensive capital raise.
PAA Research on X
I don't know what people expected for the $RKT print and guide. Always puts and takes, but this was a solid print in this environment. $UWMC just went through the windshield and my guess is that $RKT has some share gains to be had there. Gain on sale in the Pro channel was tight in the quarter so perhaps that reflects some of that.
PAA Research on X
I don't think I've ever seen a company blow up quite the way that $UWMC just did. Hedging a book of mortgage assets that you don't even own yet? Then getting demolished as rates rose and the deal didn't close. Congrats to @hntrbrkmedia on this one. I don't think this was the core thesis, but the idea that the management team here was suspect certainly was. Can't believe I wasn't involved in the short here.
Tickers on this page
Companies the stories above are also about, besides UWMC.
