NEW YORK, June 29, 2026, 06:01 EDT
- Opendoor was quoted at $4.38 before the bell after closing Friday at $4.37, up 1.63%.
- Friday volume hit 171.65 million shares, 448% of its 65-day average. Reported short interest stood at 153.72 million shares.
- Opendoor’s Russell 3000 inclusion became effective after the June 26 close, with the new Russell indexes operating from the June 29 open.
Opendoor Technologies Inc. NASDAQ:OPEN enters Monday’s regular session as a new Russell 3000 stock with a cleaner test than the headline index add. The stock has already had the forced-volume day. Now investors get to see whether the buyers stay.
Shares were quoted at $4.38 in premarket trade at 5:56 a.m. EDT, up 0.23%, after Friday’s $4.37 close. The larger number was not the price. It was the tape: 171.65 million shares changed hands Friday, against a 65-day average of 38.28 million.
| OPEN tape item | Latest figure | Investor read |
|---|---|---|
| Friday close | $4.37 | Up 1.63% on rebalance day |
| Premarket quote | $4.38 | Little follow-through before regular open |
| Friday volume | 171.65 mln shares | 4.48 times 65-day average |
| Public float | 806.03 mln shares | Friday volume equaled 21.3% of float |
| Short interest | 153.72 mln shares | Friday volume equaled 111.7% of short interest |
| Short interest as % of float | 19.07% | Still a crowded stock |
The short-interest math is the less-covered point. Friday’s turnover was larger than the last reported short base. That does not prove shorts covered. It does show the rebalance produced enough liquidity to reset part of the long-short book.
Opendoor said on May 27 it had been selected for the Russell 3000 Index, with inclusion effective after the U.S. market close on June 26. FTSE Russell said the newly recalibrated indexes would begin operating from Monday’s open.
Nasdaq Inc. NASDAQ:NDAQ said its Closing Cross executed 4.595 billion shares worth $334.027 billion across Nasdaq-listed securities on June 26. Kevin Kennedy, Nasdaq’s EVP for North American Markets, said Russell Reconstitution was one of “the clearest tests” of the close. Nasdaq, Inc.
For OPEN, the index trade lands on top of a stock that is still hard to pin down by normal housing-platform measures. It has a $4.22 billion market value, a one-year gain of 719.89%, and a year-to-date loss of 25.04%.
The operating story is better than last year on some unit metrics, but still loss-making. In the first quarter, revenue fell to $720 million from $1.153 billion a year earlier, while net loss widened to $173 million from $85 million. Gross margin rose to 10.0% from 8.6%, and homes in inventory fell to 3,420 from 7,080.
| Opendoor metric | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $720 mln | $1.153 bln | Down $433 mln |
| Gross margin | 10.0% | 8.6% | Up 1.4 pts |
| Net loss | $173 mln | $85 mln | Loss widened |
| Homes sold | 1,921 | 2,946 | Down 1,025 |
| Homes purchased | 2,474 | 3,609 | Down 1,135 |
| Homes in inventory | 3,420 | 7,080 | Down 3,660 |
| Contribution margin | 4.4% | 4.7% | Down 0.3 pts |
Chief Executive Kaz Nejatian said in May that “resale contribution margin is at its highest level in nearly two years.” He also said: “The machine is working.” Opendoor Technologies Inc.
The guidance investors now have to match against the index bid is simple. Opendoor said it expects second-quarter revenue to grow about 25% from the first quarter and contribution margin to land in the middle of its 5% to 7% target range. It is also driving toward adjusted net income positive by the end of 2026 on a 12-month go-forward basis.
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