Why Opendoor Technologies (OPEN) Stock Is Falling Today as Mortgage Rates Cloud Spring Housing
Opendoor shares fell about 2% to $5.09 in midday trading Tuesday, tracking declines in housing-linked stocks as mortgage rates hit 6.22%, the highest since December. The company projected a 10% sequential drop in first-quarter revenue and continued adjusted EBITDA losses. Management still targets breakeven adjusted net income by end-2026 despite weak market conditions.