New York, May 28, 2026, 09:05 (EDT)
Opendoor Technologies Inc. shares traded higher before the bell Thursday after the company said it will join the Russell 3000 Index. The move is scheduled to happen at the close of U.S. markets on June 26, according to
The Russell 3000 tracks about 3,000 U.S. stocks and makes up close to 98% of the investable U.S. market cap. Getting into the index can put a stock into portfolios of funds that follow Russell benchmarks, but how much is actually bought relies on index weights and what funds are allowed to buy.
FTSE Russell’s index reconstitution is typically a busy trading event. The firm said about $12.2 trillion in investor assets follow Russell U.S. indexes, with $217.2 billion trading at the close of the June 2025 reshuffle.
Opendoor shares traded at $4.75 early Thursday, about 6.0% above Wednesday’s close. Based on that price, Opendoor’s market cap sits at roughly $4.56 billion. This snapshot came from data updated at 8:48 a.m. EDT, ahead of the market open.
Trading stayed muted. The SPDR S&P 500 ETF barely moved and the Invesco QQQ Trust slipped 0.1% early, but Zillow Group added 0.8% and Rocket Companies rose 1.8%, both tied to the housing sector.
FTSE Russell is set to change Russell U.S. index reconstitution to twice a year in 2026. Updates are scheduled for May 29, June 5, June 12 and June 18, and the new indexes will go live after the June 26 close. Catherine Yoshimoto, director of product management for Russell U.S. indexes at FTSE Russell, said, “US equity markets broadened” over the past year. LSEG
Opendoor operates an online platform for buying and selling homes. The company’s main offering is a direct-sale service where owners can sell their homes to Opendoor, which turns around and sells the homes again. This approach, known as iBuying, relies on data and pricing software to make fast offers in cash.
Opendoor’s new index update arrives after a first quarter with revenue at $720 million, down from $1.15 billion last year, and a net loss of $173 million. The company’s homes in inventory dropped to 3,420 from 7,080 a year ago. CEO Kaz Nejatian told investors, “The machine is working,” highlighting faster resale velocity and healthier inventory, according to management. Opendoor Technologies Inc.
Management told investors it sees second-quarter revenue rising about 25% over the first quarter. Adjusted EBITDA is forecast at roughly breakeven, using the non-GAAP metric that excludes interest, taxes, depreciation, amortization and some other items. The company also expects to hit adjusted-EBITDA profitability for the following 12 months starting in the second quarter.
Insider buying is drawing interest from investors. A filing revealed that Nejatian picked up 100,000 Opendoor shares at $4.878 apiece on May 11, bringing his direct stake up to 83.58 million shares.
Index trading still leaves the core risk intact. Opendoor in its quarterly filing said the U.S. housing market is tight because of high mortgage rates and pressure on affordability. It warned higher rates can squeeze homebuyers, cut transaction numbers, stretch out holding times and drive up financing costs for stock it holds. The company also listed risks tied to funding, rivals, and turning a profit on buying and reselling houses.
FTSE Russell releases its next preliminary membership update on Friday. Opendoor is facing two questions this time: if index flows stay in through late June, and if the company can back up its housing-market rebound with more than a quick jump in margins and faster resales.
