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Opendoor Technologies Stock Surges Amid CEO Transition and AI Focus
Opendoor Technologies Stock Surges Amid CEO Transition and AI Focus
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BTCCSquare news:
Opendoor Technologies (OPEN) soared 18.8% at market close, with intraday gains reaching 24.6%, defying a flat S&P 500 (^GSPC) and Nasdaq (^IXIC). The rally reignites July's meme-stock momentum, previously dampened by disappointing earnings. Retail investors cheered CEO Carrie Wheeler's departure, a demand spearheaded by activist Eric Jackson of EMJ Capital and co-founder Keith Rabois, who criticized her leadership as "utterly incompetent."
The company's AI potential is driving speculative fervor. Opendoor emphasized its "unique assets in today's high-tech AI world," leveraging proprietary data to pivot its capital-intensive, cash-negative business. Yet skepticism lingers—transforming real estate tech remains a high-stakes bet.
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