Opendoor (OPEN) stock has surged since a viral post claimed the stock could hit $82. EMJ Capital founder and president Eric Jackson, who posted the viral thread, joins Market Catalysts to explain why he's betting on a turnaround.
Key Points in This Article: Opendoor's (OPEN) stock is surging 25% today, driven by meme stock hype and the Cash Plus program, but recent volatility highlights its speculative nature.
Meme stocks are back in a big way this week.
Shares in the real estate tech company and doughnut chain have swung wildly in recent days.
Signs of "irrational exuberance" are emerging in US stock markets as low-quality momentum stocks squeeze shorts and rampant short-term options trading proliferates.
The term "meme mania" emerged when companies with no apparent reason to rally began to reach stratospheric valuations, making millionaires overnight with no connection to their fundamentals. Four years later, this meme stock sentiment is starting to resurface.
A new wave of 'meme stocks' has apparently emerged, though some analysts said this was a product of summer stock market madness. Retail-driven speculation has pushed shares of Opendoor Technologies Inc (NASDAQ:OPEN), Kohl's Corporation (NYSE:KSS), Krispy Kreme Doughnuts Inc (NASDAQ:DNUT) and GoPro Inc (NASDAQ:GPRO) higher, despite a near-total absence of corporate news.
Reddit day traders have been piling into heavily-shorted stocks lately, in a rehash of 2021's GameStop craze.
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.