Opendoor Technologies (OPEN) Stock: 42% Rally After Volatile Trading Day and Exchange Halt

TLDR

Table of Contents

Opendoor (OPEN) stock surged 42% Monday after doubling earlier in the day before a volatility trading halt
Shares have gained over 300% since July 11, rising from $0.50 to above $4.80 at session highs
EMJ Capital’s Eric Jackson endorsed the stock with an $82 price target, predicting first positive EBITDA in August
Retail trading activity has exploded with heavy activity on Reddit’s WallStreetBets forum
Stock remains far below 2021 highs of $39.24 and faces delisting warnings from Nasdaq

Opendoor Technologies stock closed Monday with a 42% gain after a chaotic trading session that saw shares more than double before pulling back sharply. The iBuyer platform’s volatile day included a trading halt triggered by excessive price movement.

At its peak Monday, Opendoor rallied as much as 115% before Nasdaq officials stepped in around 3:00 p.m. ET. The stock was halted for 10 minutes when it crossed volatility limits designed to pause trading when share prices move too far, too fast.

The dramatic price action continues a recent run that has seen Opendoor gain over 300% since July 11. Shares climbed from just above $0.50 less than a month ago to above $4.80 at Monday’s session highs.

Despite the recent surge, Opendoor stock remains well below its February 2021 all-time high of $39.24. The company went public through a SPAC transaction in December 2020 but has yet to report a profitable quarter.

Analyst Endorsement Fuels Rally

The stock’s momentum picked up steam after EMJ Capital principal Eric Jackson posted a bullish case on social media platform X. Jackson, who gained recognition for his early support of Carvana’s turnaround, laid out his prediction that Opendoor would report its first quarter of positive EBITDA in August.

OPEN Fam: This is not a dead business like $GME. This is a real big valuable platform. Somebody who works with me when he heard I’d taken a long position in $OPEN:
Didn’t click with me but I sold my house and bought a new one about 4 years ago using Opendoor. Best model ever…
— Eric Jackson (@ericjackson) July 20, 2025

Jackson set an ambitious $82 price target for the stock. His endorsement appears to have triggered retail investor interest that has driven much of the recent trading activity.

VandaTrack data shows retail trading activity in Opendoor has surged in recent weeks. The stock has become popular on Reddit’s WallStreetBets forum, known as a gathering place for meme stock discussions.

Trading Challenges and Market Conditions

Opendoor faced potential delisting from Nasdaq in May after trading below $1 for more than 30 consecutive days. The warning came as the company struggled with challenging real estate market conditions.

In June, Opendoor settled a class-action lawsuit. The suit alleged the company failed to properly disclose limitations in its pricing algorithm’s ability to adapt to housing market changes.

Short interest in the stock had reached record levels by the end of June. More than 25% of Opendoor’s float was sold short, similar to patterns seen in previous meme stock rallies involving GameStop and AMC Entertainment in 2021.

Existing home sales have fallen nearly 50% since Opendoor went public in late 2020. The company has reported adjusted losses for 11 straight quarters as the real estate market has slowed.

Only one of nine analysts covering the stock currently rates it a Buy according to FactSet data. The consensus price target sits at just 93 cents, well below current trading levels.

Tuesday premarket trading showed Opendoor up another 12% to $3.61 as the rally appeared set to continue. The stock’s recent volatility mirrors classic meme stock behavior seen in previous retail-driven rallies.

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