Opendoor Technologies Stock Tumbles After Disappointing Q3 Guidance
Opendoor Technologies (OPEN) shares plunged 18.8% following its Q2 earnings report, despite revenue beating estimates at $1.57 billion. The online home-flipper posted its first adjusted EBITDA profit since 2022, but weak Q3 guidance overshadowed the results.
The company's transition from product to platform shows early promise—twice as many customers now reach final underwritten offers compared to traditional methods. Yet GAAP losses per share of $0.04 missed expectations, reflecting persistent challenges in a sluggish housing market.