Opendoor Technologies Inc. Stock News

The iBuying leader has rebounded sharply from the lows, but should investors still be skeptical?

Opendoor Technologies Inc. (NASDAQ:OPEN ) Goldman Sachs 2023 Communacopia & Technology Conference September 7, 2023 7:25 PM ET Company Participants Carrie Wheeler - CEO Conference Call Participants Mi

Recently, Zacks.com users have been paying close attention to Opendoor Technologies Inc. (OPEN). This makes it worthwhile to examine what the stock has in store.

Opendoor has recovered nicely, but the gains may not be sustainable.

Housing market crash fears are on the rise again. Sure, despite the big jump in interest rates, housing has stayed fairly resilient, thanks to scarce inventory.

The online platform aims to bring greater efficiency to buying and selling residential real estate. A slump in the market last year left Opendoor with too many properties it had to off-load.

Opendoor's stock has plummeted since its SPAC-backed debut in late 2020. Amazon's stock also swooned as macro headwinds throttled its growth.

Investors were disappointed as revenue fell sharply and the company posted a wide EBITDA loss. Management seems to be making progress with inventory and sees narrower losses in Q3.

The housing market has plummeted, leading to a huge cut in Opendoor's sales. It's focusing on new sales channels and better inventory to keep expenses low and generate sales.

Opendoor stock is up big this year but is still 90% below its all-time high. Revenue continues to lag year-ago levels.

Economic data releases convinced investors that inflation was cooling and that monetary policy would ease. Innovative Industrial Properties gained on signs that marijuana could be reclassified at the

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SAN FRANCISCO, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (“Opendoor”) (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today announced tha

Recently, Zacks.com users have been paying close attention to Opendoor Technologies Inc. (OPEN). This makes it worthwhile to examine what the stock has in store.

This company is posting decreasing sales, but it's laying the groundwork for a huge recovery. Wayfair is the leader in a massive addressable market, and will soon return to growth.