Opendoor Names New CEO Amid Stock Surge
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BTCCSquare news:
Opendoor Technologies (OPEN -6.92%) has appointed Kaz Nejatian as CEO, sparking a dramatic 1,600% stock rally over three months. The surge follows a Nasdaq delisting warning in May due to its penny-stock status, highlighting the volatile nature of speculative equities.
The company's core house-flipping model—scaling a traditionally local investment strategy—has yet to achieve profitability. Wall Street's skepticism had previously driven shares into high-risk penny territory, though Nejatian's leadership now fuels investor Optimism about institutionalizing residential arbitrage.
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