Opendoor Stock Skyrockets 1300% Amid Meme Hype – Will the Rally Survive the Housing Slump?
Opendoor Technologies shares surged 1,300% from June lows, averting Nasdaq delisting and prompting the company to cancel a planned reverse split. Despite the rally, Opendoor posted a $29 million Q2 loss and expects Q3 revenue to fall sharply. The company named Kaz Nejatian CEO in September, shifting focus to AI-powered real estate. Wall Street analysts remain skeptical, with price targets below current levels.