Opendoor Shares Face Reality Check as Influencer Support Shifts

Opendoor Technologies Inc. (OPEN) experienced a severe market downturn yesterday, with its stock plummeting over 12% to close at $8.38. This significant decline was not triggered by negative corporate news but rather by a notable shift in sentiment from a key market influencer.

The dramatic sell-off appears directly linked to hedge fund manager Eric Jackson, whose social media activity had previously fueled a remarkable 500% rally in Opendoor shares this year. Jackson announced a new investment favorite yesterday: Better Home & Finance Holding (BETR), which he described as the “Shopify of mortgages.” This declaration prompted substantial capital to flow out of Opendoor, illustrating the fickle nature of meme-stock popularity.

Trading volume surged dramatically, but this time to Opendoor’s detriment. The... Read more...