Opendoor’s Explosive Ride: New CEO, Meme-Stock Frenzy & What’s Next for OPEN
Opendoor shares surged from $0.50 in June to over $10 in mid-September, before settling near $7 on Oct. 22, up 300–450% year-to-date. Shopify veteran Kaz Nejatian was named CEO, with co-founders Keith Rabois and Eric Wu returning to the board. Q2 revenue hit $1.6 billion with positive adjusted EBITDA, but losses persist and Q3 guidance is weaker. Wall Street remains bearish despite heavy retail interest.