Individual investors are flocking to social media to cheer on a new group of oddball stocks and squeeze the short sellers; ‘Let's goo!!' says Hot-Ticket9440.
Opendoor Technologies Inc. OPEN shares have strengthened as retail investors piled on to the meme stock, hoping for a recovery similar to Carvana Co. CVNA despite housing market headwinds. Is now a good time to invest in OPEN stock, and can it rebound like Carvana?
Kohl's stock more than doubled at its intraday peak Tuesday, then pulled back, a day after Opendoor shares did the same.
The online real estate developer's shares are on a stellar run. Investors should be careful not to get burned.
Shares of Opendoor Technologies (NASDAQ: OPEN) spiked 42% on Monday to close at $3.21, with the momentum carrying into Tuesday's pre-market session, where the stock surged another 11.21% to $3.57.
Opendoor Technologies Inc. stock's recent 400% surge is driven by meme-stock hype and short squeeze dynamics, not by fundamental improvements in the business. The company remains highly leveraged, unprofitable, and exposed to real estate market risks, despite operational progress and cost controls. Upcoming earnings on August 5 could fuel further volatility; a strong report may trigger another rally, while disappointment could crash the stock.
In the span of about a week, Opendoor Technologies Inc. has gone from a struggling former pandemic-era darling to the talk of the U.S. equity market.
Watch out, AMC. There's a new meme stock on the market.
Shares have nearly tripled in value over the past week.
Shares of Opendoor Technologies Inc (NASDAQ: OPEN) soared more than 85% on Monday as a wave of retail investor enthusiasm sent the stock to its highest level in over a year, reviving memories of the GameStop Corp (NYSE:GME) trading mania of 2021. The online real estate platform's stock has jumped 188% over the past week, rising from just above $0.50 in late June to $4.22 at midday Monday.
Key Points in This Article: Opendoor (OPEN) surged 163% in a week and 262% in a month, driven by retail frenzy and a hedge fund's 1,000% gain prediction, despite its risky iBuying model and heavy debt load.
Is it a legit run? A passing fad?