Date: November 11, 2025
Ticker: NASDAQ: OPEN
At a Glance (Nov. 11)
- Price action: Opendoor shares traded around $8.48, up roughly 6.6% intraday, with a session high of $8.61, low of $7.82, and heavy volume above 220 million shares (as of 22:31 UTC).
- Fresh catalyst: New CEO Kaz Nejatian said he and his family would buy $1 million of OPEN at today’s open, a message first shared on social media late Monday. [1]
- Ownership filing: Goldman Sachs filed a Schedule 13G showing ~38.56 million OPEN shares (about 5.1% of the company) beneficially owned as of Sept. 30, 2025; the filing was accepted Nov. 10. [2]
- Ongoing backdrop: JPMorgan reiterated an Overweight rating with a Street‑high $8 price target (Dec. 2026 horizon) on Monday, citing confidence in the new leadership and execution reset. [3]
- Near‑term corporate action: Opendoor’s special dividend of tradable warrants remains on the calendar — record date Nov. 18, expected distribution Nov. 21; one warrant of each series (K/A/Z) per 30 shares with exercise prices of $9, $13, $17. [4]
OPEN Stock Today: Price, Volume and Context
By late session Tuesday, Opendoor traded near $8.48, up about 0.53 on the day, after ranging from $7.82 to $8.61. Turnover was intense, topping 224 million shares, underscoring how retail flows and headline risk continue to amplify intraday swings.
U.S. equity markets were open for trading on Veterans Day (Nov. 11), though the bond market was closed — a nuance that sometimes affects liquidity and volatility profiles. [5]
What’s Driving Opendoor Today
1) CEO Share‑Buy Pledge
New CEO Kaz Nejatian said in a Monday night post that today would be the first day he’s allowed to buy OPEN and that his family would purchase $1 million at the open. Insiders signaling confidence with open‑market buys tend to be read as supportive in the short run, especially for stocks with elevated retail interest. [6]
2) Goldman’s 5.1% Ownership Disclosure
A Schedule 13G filed with the SEC shows The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC with ~38.56 million shares beneficially owned, representing 5.1% of Opendoor. The filing (event date Sept. 30, 2025; accepted Nov. 10, 2025) details shared voting/dispositive power over those shares. Large‑holder disclosures can draw incremental attention and liquidity, particularly in heavily shorted or momentum‑driven names. [7]
3) Follow‑Through From Monday’s Analyst Support
On Monday (Nov. 10), JPMorgan reaffirmed an Overweight and set a $8 price target (Dec. 2026), pointing to a transformation under new leadership and an expected acceleration in home acquisitions in Q4. That note helped power a big Monday rally and set the tone for today’s action. [8]
The Warrant Dividend That Everyone’s Watching
Opendoor last week announced a “shareholder‑first” dividend of tradable warrants designed to align management and investors. Holders of record on Nov. 18 will receive three warrants (Series K, A, Z) for every 30 shares, each exercisable for one common share at $9, $13, and $17, respectively. The company expects to distribute the warrants around Nov. 21 and aims to list them on Nasdaq (OPENW, OPENL, OPENZ). [9]
Beyond providing potential upside optionality, the structure could influence mechanics for short sellers, who typically must deliver entitlements (like dividends or, here, distributed warrants) to the lenders of borrowed shares — a point widely discussed in Monday coverage and a source of added attention around OPEN. [10]
Fundamentals & “Opendoor 2.0”: Where Execution Has to Show Up
In its Q3 2025 update, Opendoor reported $915 million in revenue (–33% YoY), 7.2% gross margin, and –$33 millionadjusted EBITDA, while outlining a push to rescale acquisitions, improve unit economics & resale speed, and drive operating leverage — with a stated goal of breakeven Adjusted Net Income by end‑2026. Management also emphasized a shift to treating Opendoor as a software‑ and AI‑driven business, with new products rolling out and a more transparent “Financial Open House” investor format. [11]
Analyst enthusiasm is not uniform; JPMorgan’s stance contrasts with more cautious views elsewhere, which is common when a company is mid‑turnaround and still posting losses. The bull case depends on faster inventory turns, expanding acquisition funnels, and technology‑led cost discipline translating into steadier contribution margins. [12]
Key Dates and Watch‑Items
- Nov. 18, 2025 — Record date for the warrant dividend (eligibility determined by holder of record; investors using margin or lending should confirm status with brokers). [13]
- Around Nov. 21, 2025 — Expected distribution of warrants; company intends Nasdaq listings as OPENW / OPENL / OPENZ. [14]
- Liquidity/flow — Elevated volume and headline sensitivity can persist as traders position around the record date and potential warrant trading start.
Bottom Line
For Nov. 11, 2025, Opendoor (OPEN) is trading higher on a combination of CEO alignment (the $1M buy), a newly disclosed 5.1% Goldman stake, and follow‑through from JPMorgan’s Overweight call. The next near‑term fulcrum is the warrant dividend (record date next week), while the medium‑term story hinges on whether “Opendoor 2.0” can deliver higher throughput, better unit economics, and operating leverage into 2026. [15]
Editor’s note: This article is for informational purposes only and does not constitute investment advice. All market data cited is intraday and subject to change.
References
1. www.benzinga.com, 2. www.sec.gov, 3. www.tradingview.com, 4. www.globenewswire.com, 5. www.cbsnews.com, 6. www.benzinga.com, 7. www.sec.gov, 8. www.tradingview.com, 9. www.globenewswire.com, 10. www.businessinsider.com, 11. www.globenewswire.com, 12. www.tradingview.com, 13. www.globenewswire.com, 14. www.globenewswire.com, 15. www.benzinga.com
