ROWID is the physical location of a row. We can do very fast lookup based on ROWID. In a transaction where we first search a few rows and then update them one by one, we can use ROWID.
But ROWID of a record can change over time. If we rebuild a table a record can get a new ROWID.
If a record is deleted, its ROWID can be given to another record.
So it is not recommended to store and use ROWID in long term. It should be used in same transactions.