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Opendoor Technologies: A Potential Millionaire-Maker Stock?
Opendoor Technologies: A Potential Millionaire-Maker Stock?
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BTCCSquare news:
Opendoor Technologies (OPEN) has surged 500% over the past three months, fueled by retail investor enthusiasm and high short interest. Despite this rally, the stock remains 90% below its all-time highs, weighed down by significant cash burn and lack of profitability. The iBuying pioneer, which purchases homes directly from sellers and flips them, faces skepticism as home price appreciation stalls.
Activist investor Eric Jackson sparked the recent rally by touting OPEN's 100x potential from sub-$1 levels, leveraging social media to drive momentum. With competition thinning in the iBuying space, proponents argue the company is undervalued. Yet, questions linger about its path to sustainable growth amid a challenging real estate market.
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