NEW YORK, April 21, 2026, 14:33 EDT
- Opendoor Technologies climbed roughly 5.6% to $5.65 on Tuesday, hitting an intraday peak at $5.99. Volume topped 63 million shares.
- Pending home sales in the U.S. climbed 1.5% in March, outpacing expectations—even with existing-home sales sinking to a nine-month low not long ago.
- Opendoor will release its first-quarter earnings after the bell on May 7.
Opendoor Technologies Inc. climbed roughly 5.6% Tuesday afternoon, outperforming most housing stocks after upbeat U.S. pending home sales figures. Traders also have their eyes on the company’s upcoming Q1 results slated for May 7. Shares were recently at $5.65, off session highs of $5.99.
This shift hits as the spring selling season ramps up—a key window for Opendoor. The company offloads homes from its own stock and operates a marketplace where sellers can close deals without Opendoor ever holding the deed. Now, the spotlight is on the next earnings report. Investors are looking for signs the turnaround is holding, with mortgage rates and buyers’ budgets still putting a lid on activity.
Housing data paints a choppy picture. Pending sales of previously owned homes edged up 1.5% in March, outperforming what economists had penciled in, yet closed existing-home deals slipped to their lowest since July. At March’s end, the average 30-year fixed mortgage sat at 6.38%, up from February’s 5.98%. NAR Chief Economist Lawrence Yun flagged that first-time buyers are feeling the most pinch from higher rates.
Opendoor insists it’s making progress, even given the current environment. Back in February, CEO Kaz Nejatian said the company was “executing on that plan” to hit breakeven adjusted net income by the close of 2026. Fourth-quarter revenue landed at $736 million. Homes purchased jumped 46% over the previous quarter. Looking ahead, Opendoor expects first-quarter revenue to drop roughly 10% from Q4, and projects adjusted EBITDA losses to stay in the low- to mid-$30 million range. SEC
Last week, the company announced plans to release its first-quarter numbers after markets close on May 7, opting to hold a video “Financial Open House”—with shareholder Q&A—in place of a standard earnings call. It’s a rare move for a stock that remains a magnet for retail traders. Opendoor Technologies Inc.
Eyes are on the shareholder roster, too. In a Schedule 13G/A filed earlier this month, both Morgan Stanley and Morgan Stanley Investment Management disclosed owning roughly 10.2% of Opendoor as of March 31. Reuters noted last week that Opendoor stands out as one of the few meme-stock survivors from last year—a sign that shifts in sentiment can whip the stock sharply in either direction.
The stock jumped past rivals on Tuesday. Zillow slipped roughly 1.3%, while Offerpad managed a gain of under 0.5%. Over in homebuilders, D.R. Horton pointed to affordability issues and “cautious consumer sentiment” continuing to weigh on demand, though the company maintained its annual revenue forecast above Wall Street’s consensus. Reuters
That’s the trouble facing Opendoor. Barclays analyst Matthew Bouley pointed out that geopolitical tensions, steeper rates, and general uncertainty are “weighing on consumers” this spring. Builders are countering with mortgage-rate buydowns and extra perks, yet sluggish demand poses a real threat to a business that relies on quick sales and defending resale margins. Reuters
Tuesday’s rally points to investors giving Opendoor some rope ahead of earnings. The real scrutiny lands May 7, when the company faces pressure to prove quicker inventory turnover and shrinking losses can withstand a still shaky U.S. housing market.
