Hedge Fund Manager Touts Opendoor as Next 100-Bagger Amid Real Estate iBuying Rally

Opendoor Technologies shares have surged over 200% in just over a month, fueled not by operational results but by hedge fund manager Eric Jackson's viral social media posts calling it a potential 100x opportunity. Jackson, who previously predicted Carvana's meteoric rise, argues the iBuying platform stands alone after competitors Zillow and Redfin exited the space.

The controversial fund manager's thesis hinges on Opendoor's dominant position in a sector poised to rebound when macroeconomic conditions improve. With interest rate cuts potentially reigniting housing demand, Jackson sees parallels to Carvana's improbable comeback from near-bankruptcy to 100-bagger status.

Market observers remain divided. While Opendoor's technology platform could capitalize on a housing recovery, its current cash burn and operational losses present substantial risks. The stock's recent volatility reflects this dichotomy - soaring on speculative fervor while fundamentals remain shaky.