NEW YORK, June 24, 2026, 19:02 EDT
- Opendoor added in the regular session, then climbed again after hours.
- Volume stayed close to its average ahead of Friday’s Russell 3000 effective date. No major surge showed up.
- Weaker new-home-sales data kept attention on Opendoor’s resale pace and margins.
Opendoor Technologies Inc. NASDAQ:OPEN finished Wednesday up 1.9% at $4.28. In after-hours action at 6:59 p.m. EDT, shares traded at $4.3499. Regular trading on Nasdaq ended earlier, and the after-hours period goes from 4 p.m. to 8 p.m. ET. Volume hit 36.91 million shares, which is 102% of the 65-day average—about 4.6% of the company’s public float.
The stock outperformed as the broader market moved lower. The Nasdaq Composite (INDEXNASDAQ:.IXIC) dropped 0.43%. The S&P 500 slipped 0.10%. The Dow posted a 0.35% gain. U.S. exchange volume came in strong at 25.84 billion shares, topping the 20-day full-session average of 22.92 billion, according to Reuters.
Churn, not the gain, told the story. With about $158 million worth of Opendoor shares moving on the day, volume was just above its usual pace. That points to the market still waiting on a bigger rush from index rebalancing.
Opendoor said May 27 it’s getting added to the Russell 3000 Index, with the move kicking in after the U.S. market close June 26. Opendoor said companies in the Russell 3000 usually end up in the Russell 1000 or Russell 2000, plus relevant style indexes.
Friday’s close will be key for near-term trading. FTSE Russell said its rebalanced indexes go live after the U.S. market shuts on June 26. Nasdaq-listed names use Nasdaq’s Closing Cross for the reconstitution, meaning all trades happen at a single price. A year ago, FTSE Russell reported $102.5 billion in U.S. stocks swapped hands in Nasdaq’s closing minutes, with $114.7 billion trading on the NYSE.
U.S. single-family home sales fell by 7.3% in May to a 580,000 annual rate, government data showed. Inventory hit 10.3 months at the May sales pace, according to the Census Bureau and HUD. Median price on new homes was $424,900.
FWDBONDS chief economist Christopher Rupkey told Reuters, “There are not enough homes on the market.” Stephen Stanley, chief U.S. economist at Santander U.S. Capital Markets, called demand for new homes “tepid.” Reuters
Opendoor’s 2026 outlook depends on how quickly it can sell homes and pick up more inventory. In May, the company reported homes bought jumped 45% from the previous quarter, acquisition contracts passed 5,000, and the share of houses listed over 120 days dropped to 10% from 33% the quarter before. “The machine is working,” Chief Executive Kaz Nejatian said. Opendoor Technologies Inc.
Opendoor’s numbers don’t shake off risk. The company posted $720 million in first-quarter revenue, dropping from $1.15 billion a year ago, with a net loss at $173 million. Opendoor is guiding for about 25% revenue growth in the second quarter from Q1, with adjusted EBITDA expected to land roughly at breakeven, give or take a few million.
Opendoor is making cost cuts as it moves to more AI. Reuters said June 11 the company will close its India operations and lay off all 250 staff in the country, Nejatian told Reuters.
Opendoor has analysts divided. According to Barron’s, there are nine ratings: two buys, five holds, two sells. The average target comes in at $4.82, which is about 12.6% above where shares finished Wednesday. Targets range from $1 to $8. The stock has dropped 26.6% this year but is up 695.5% over the past 12 months. Opendoor will report Q2 results July 30.
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