TLDR
- Opendoor (OPEN) stock finished Thursday up 16% at $2.31 after touching a record low of $1.93.
- Falling Treasury yields, the CEO’s defense of the business model and a new 2% down program helped the rebound.
- The stock dropped 49% in the third quarter and is down about 66% so far this year.
- Hedge fund holdings fell to $156.2 million from $315 million, and the fund count slipped from 39 to 36.
- The Fed meeting later this month and earnings in early November come next.
Opendoor (OPEN) stock finished Thursday up 16% at $2.31. The move followed a drop to a record low of $1.93 earlier in the session.
Opendoor Technologies Inc., OPEN
The stock climbed as high as $2.34 during the day, a gain of about 21%. It had slipped below $2.00 just before the turnaround.
Even after the bounce, the stock is down about 66% in 2026. Its market cap is roughly $2.05 billion.
Average daily volume sits near 41 million. TipRanks lists its technical signal as “Sell.”
What Pushed the Stock Higher
Treasury yields posted their biggest one-day drop since last year. That made real estate-linked assets look more appealing.
The drop came as tech stocks sold off. Investors worried about borrowing tied to AI buildouts and the chance of higher rates.
Opendoor had its own news too. CEO Kaz Nejatian spoke out in defense of the company’s business model.
The company also launched a 2% down co-ownership program. It is meant to ease affordability concerns for homebuyers.
Some traders point to rising home acquisitions and revenue. They see that as a sign demand is picking up.
Higher volumes and AI-driven efficiency could spread out costs over time. Ongoing losses and negative cash flow remain risks.
A Hard Quarter and Fading Fund Interest
The stock fell 48.7% in the third quarter, from $4.62 on June 30 to $2.37 at the end of September. The second quarter drop was 14%, and the first was 19.7%.
Higher rates, a slow housing market and weak consumer confidence weighed on the price. Doubts about a turnaround added pressure.
Hedge fund interest cooled as well. The number of funds holding the stock fell from 39 to 36 in the second quarter.
Their combined holdings dropped to $156.2 million from $315 million. Many traders treat it as a meme stock, and that keeps the swings wild.
The Federal Reserve meets later this month, and economists are split on its next move. That decision could steer the stock in the weeks ahead.
Opendoor reports earnings in the first week of November. It is targeting 10% to 15% revenue growth year over year, along with better margins and velocity.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
