Opendoor Technologies Stock Surges 142% in August Amid Fed Rate Cut Speculation

Opendoor Technologies (OPEN) extended its July rally with a staggering 142% surge in August, fueled by renewed Optimism around a potential Federal Reserve rate cut. The embattled iBuying platform defied weak Q2 earnings, with shares now up nearly 1,000% since early July lows.

Market sentiment shifted decisively after a soft unemployment report reignited hopes for monetary policy easing. CEO Carrie Wheeler's announced departure paradoxically boosted confidence, with investors betting fresh leadership could accelerate the turnaround.

The stock exhibited extreme volatility throughout the month, maintaining retail investor interest despite fading meme-stock momentum from July. Hedge fund manager Eric Jackson had previously likened OPEN's potential to GameStop's legendary short squeeze, citing oversold conditions in the home-flipping specialist.