New York, May 29, 2026, 09:25 (EDT)
Opendoor Technologies Inc. was flat ahead of the open on Friday, trading at $5.08. Shares ended Thursday at $5.07. The action comes as traders focus on the stock’s June inclusion in the Russell 3000, with no new operating news out.
Opendoor Technologies Inc. said May 27 it will be added to the Russell 3000 Index as part of the 2026 reconstitution, with the move effective after the U.S. market closes June 26. Opendoor said companies included in the Russell 3000 usually join either the Russell 1000 or Russell 2000, as well as related growth and value indexes.
The Russell 3000 is a wide benchmark, covering about 3,000 U.S. stocks and built to represent close to 98% of investable U.S. equities. Index-tracking funds that aim to follow the benchmark may need to shift their holdings when the changes take effect.
FTSE Russell says around $12.2 trillion tracks the Russell U.S. indexes or is tied to funds using those benchmarks. The company’s June 2026 reconstitution updates will hit after the close on May 29, June 5, June 12, and June 18. New indexes start trading with the open on June 29. CEO Fiona Bassett said making the reconstitution semi-annual should let the indexes “more responsively reflect changing market dynamics.” LSEG
Opendoor shares started gaining before Friday. Benzinga said Thursday afternoon that the stock was up 9.89% at $5.22 as traders moved in ahead of the Russell addition.
Opendoor’s core business remains choppy. The iBuyer used data and cash to make fast home offers and turn properties around, but first-quarter revenue dropped to $720 million from $1.15 billion a year ago. Net loss deepened, coming in at $173 million after posting an $85 million loss last year. In the quarter, Opendoor sold 1,921 homes and bought 2,474.
Chief Executive Kaz Nejatian told investors in May the turnaround is about going “from a claim to a track record,” and said “the machine is working.” The company said acquisition contracts more than doubled from the fourth quarter and aged inventory dropped. March resale contribution margin was the best since the second quarter of 2024. Opendoor Technologies Inc.
Opendoor’s quarter failed to hit traditional profit targets again. The company reported adjusted EBITDA at minus $31 million, close to the minus $30 million it posted in the same period last year. Guidance for the second quarter puts adjusted EBITDA roughly at breakeven, give or take a few million.
Housing remains a tough spot. Freddie Mac reported on Thursday that the 30-year fixed mortgage rate averaged 6.53%, up slightly from 6.51% the previous week, which keeps affordability stretched for homebuyers. Sam Khater, chief economist at Freddie Mac, said there is “latent demand” in the market and buyers would come back if rates fall. GlobeNewswire
Opendoor’s latest move is mostly about mechanics around its operating reset and whether investors trust it will last. Zillow Group connects to Opendoor’s resale pipeline through a known marketing-services warrant deal. Smaller rival Offerpad is also linked to the instant-cash, quick-sale side of the real estate market.
The risk is clear. If mortgage rates remain high, resale times lengthen or prices drop, passive index demand might not cover the costs of buying, financing, and holding homes. Opendoor’s filing lists interest-rate swings, competition, inventory management, and the challenge of financing and reselling homes as risks for its results.
Right now, trading is all about the calendar. The immediate focus is Friday’s FTSE Russell update. A bigger move could happen at the June 26 close, when index funds and benchmark trackers will figure out their Opendoor positions.
