Opendoor Stock Falls 6% as Rising Rate Fears, Weak Housing Data Hit OPEN Shares
Opendoor Technologies stock slid roughly 6% on Thursday. The online home seller opened at $5.19, slipped to a session low of $4.91, and by late morning was changing hands at $4.94 on the Nasdaq. Opendoor’s fate is closely linked to housing turnover. The company purchases homes from sellers and flips them, so when mortgage rates change or resales slow, it tends to feel the squeeze on demand, inventory flow, and profit margins simultaneously.