Opendoor Stock Surges 37% Amid Leadership Shakeup and Retail Investor Frenzy

Opendoor Technologies (OPEN) saw its shares skyrocket 37% last week following the appointment of a new CEO, marking a pivotal moment for the embattled real estate platform. The stock has surged an astonishing 1,750% since hitting a July low of $0.51, fueled by a social media-driven buying spree reminiscent of meme-stock mania.

Activist investors and retail traders have seized on the company's distressed valuation, betting on a potential turnaround despite headwinds from elevated interest rates. Opendoor's business model thrived in the near-zero rate environment of 2021, when shares reached record highs. Current prices remain 74% below those peaks.

The leadership change comes as market participants debate whether this represents a genuine recovery opportunity or a speculative trap. Trading volume patterns suggest coordinated buying campaigns rather than fundamental improvement, creating volatility that could persist through the transition period.