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Hedge Fund Manager’s Scathing Critique Sends Opendoor Stock Plunging
Hedge Fund Manager’s Scathing Critique Sends Opendoor Stock Plunging
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BTCCSquare news:
Opendoor Technologies (OPEN) shares tumbled 12% during Monday's session following blistering criticism from hedge fund veteran George Noble. The former Peter Lynch protégé lambasted the iBuyer's business model as "total garbage" on social media platform X, triggering extended losses that continued into Tuesday's premarket trading.
Noble's critique focused on Opendoor's persistent unprofitability since inception, describing its unit economics as "atrocious." His comments highlighted the stark valuation disconnect between OPEN's 22x EV/revenue multiple and rival Compass' 0.9x ratio, despite the latter's stronger balance sheet and operational metrics.
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