Opendoor Technologies CEO Exits Amid Investor Pressure, Shares Jump 11%

Opendoor Technologies Inc. saw its shares surge 11.35% to $3.39 following the resignation of CEO Carrie Wheeler. Activist investors, including hedge fund manager Eric Jackson and co-founder Keith Rabois, had been pushing for leadership changes after the company's lackluster quarterly performance.

The stock has staged a remarkable recovery, rising sixfold since June when it teetered NEAR delisting levels at $0.51. Jackson's public campaign for new leadership gained traction on social media, where he urged stakeholders to "start THINKING BIG AGAIN" following Wheeler's departure.

Shrisha Radhakrishna has been appointed interim president while the board searches for a permanent CEO. Despite the recent rally, Opendoor shares remain a fraction of their early 2021 peak after a 99% collapse during the housing market downturn.