Opendoor’s Explosive Ride: New CEO, Meme-Stock Frenzy & What’s Next for OPEN
Investors and founders celebrate a new era at Opendoor: after a meme-stock rally, the company named Shopify vet Kaz Nejatian as CEO and brought co-founders back to the boardbusinessinsider.comts2.tech. The image symbolizes the blend of real estate and technology in Opendoor’s strategy. Opendoor has been one of 2025’s most volatile stocks. After languishing near a multi-year low in June, the shares rocketed to above $10 by mid-September – an astonishing ~1,600% jump over just three monthsts2.tech. By Oct. 22, 2025, OPEN trades around $7, reflecting a partial pullbackstockanalysis.com. That still leaves the stock up roughly +350–450% on the yearinvestopedia.comts2.tech. The catalyst? A retail‑driven frenzy and a major management shake-up. In early Sept. Opendoor announced former Shopify COO Kaz Nejatian as CEO and the return of founders Keith Rabois and Eric Wu to its boardbusinessinsider.comts2.tech. This “founder mode” pivot sent OPEN up ~80% on the day. Quant firm Jane Street later revealed a ~5.9% stake, lending some institutional credence to the rallyinvestopedia.com.