Rocket Companies stock falls toward 7th-straight loss as CEO Jay Farner to retire after 27 years with company

Shares of Rocket Companies Inc.
RKT,
-1.19%
slumped 4.5% toward a seventh-straight decline in premarket trading Monday, after the mortgage, real estate and financial services company said Chief Executive Jay Farner will retire after a 27-year career at the company. The company said when the retirement becomes effective, on June 1, Bill Emerson will assume the CEO role on an interim basis. Emerson is a 30-year veteran of Rocket, is currently vice chairman of Rock Holdings, and was CEO of Rocket Mortgage from 2002 to 2017. The stock, which has shed 18.3% over the previous six sessions, has rallied 8.4% over the past three months through Friday, while the S&P 500
SPX,
+0.99%
has gained 2.4%.