The Hedge Fund Founder Who Sparked Opendoor’s Meme Rally Now Sets Sights on Nextdoor

He fueled the fire under Opendoor's meme-stock frenzy. Now, this hedge fund founder is turning up the heat on Nextdoor.

From iBuyer to Neighborhood Watch

The playbook is familiar: identify an undervalued, community-centric platform, apply strategic pressure, and watch the retail crowd pile in. After orchestrating a surge that sent Opendoor's stock on a parabolic tear—fueled more by social media fervor than fundamental analysis—the architect is plotting his next community-driven conquest.

Nextdoor, the hyperlocal social network, now finds itself in the crosshairs. The thesis? That its vast, engaged user base and trove of neighborhood data represent a massively undervalued asset, ripe for a narrative shift. Forget boring old monthly active users; the new game is meme potential and platform utility.

The Catalyst Play

This isn't about gentle activism. It's a calculated move to trigger a re-rating. By publicly championing the stock and framing its future around disruptive potential—think local commerce, service marketplaces, data monetization—the goal is to bypass skeptical analysts and speak directly to the momentum crowd. It’s a play that cuts out the traditional gatekeepers of Wall Street research.

Why it works is simple: in today's market, a compelling story often moves faster than a solid balance sheet. The strategy leverages the very connectivity these platforms provide, turning users into potential investors and community chatter into a bullish signal.

A Calculated Gamble on Community

The bet hinges on transforming perception. Can a platform known for lost pet alerts and contractor recommendations be rebranded as a tech growth story? The fund founder is wagering that a focused campaign can ignite the same speculative spark, convincing the market that Nextdoor's local networks are the next untapped frontier.

It's a provocative, high-risk maneuver. One that highlights a cynical truth of modern finance: sometimes, the right narrative is a more powerful currency than quarterly earnings. Just ask anyone who bought the top of the last meme rally.

Key Takeaways

• Shares of neighborhood network Nextdoor took off Wednesday after hedge fund founder Eric Jackson posted bullish comments about the company on social media.
• Jackson's previous comments about Opendoor Technologies and Better Home & Finance helped send shares of both skyrocketing earlier this year.

Nextdoor shares are riding a meme stock rally.

Shares of the neighborhood social network jumped nearly 50% to about $3 Wednesday before paring back some early gains after a hedge fund founder known for driving up shares of other meme stocks posted bullish comments on social media. The MOVE helped bring Nextdoor (NXDR) stock back into positive territory for the year.

Eric Jackson, president of Toronto-based EMJ Capital, called Nextdoor “The Most Mispriced Agentic-AI Platform of the 2020s” in a post on X, indicating it could be set for significant growth. "Identity + trust + proximity + AI is a rare combination," wrote Jackson, who suggested the market is underestimating Nextdoor's strengths.

Nextdoor, which went public through a special purpose acquisition company merger in 2001, is a social media platform offering users a way to connect with neighbors and get local news and recommendations. Last month, the company reported rising revenues, though it has struggled to turn a profit.

Why This Is Significant

Heightened volatility in Nextdoor's stock price could underscore lingering uncertainty about its business if Wednesday's momentum fails to hold.

Jackson argued that in every cycle, “a few platforms stay misunderstood for years... until one moment reframes everything,” and that Nextdoor shares at about $2 each “feels like one of those moments.”

Jackson’s bullish comments earlier this year about other companies, such as online real estate firms Opendoor Technologies (OPEN) and Better Home & Finance (BETR), have also helped send their shares soaring. Shares of Opendoor are up about 370% for 2025, while Better Home & Finance has soared 460%.

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Shares of video game retailer GameStop (GME), which saw record levels during the meme stock craze of early 2021, were down about 4% in recent trading after the company posted quarterly sales that missed analysts' estimates, while shares of online pet retailer Chewy (CHWY) climbed about 2% after a strong earnings report.