Better Real Estate Stock to Buy: Opendoor vs. Redfin [Yahoo! Finance]
Opendoor Technologies Inc (OPEN)
Company Research
Source: Yahoo! Finance
Both are real estate tech stocks aiming to disrupt the massive real estate industry. They have a lot of exposure to the housing market, which has sunk both stocks in the post-pandemic slump. As the chart below shows, Opendoor and Redfin are both down sharply from their previous peaks. Both stocks are down roughly 90% from their pandemic-era peaks, but as investors look forward to interest rate cuts, expected to begin in September, Redfin and Opendoor are suddenly popping. As of Aug. 27, Redfin was up 75% from where it closed on Aug. 7, while Opendoor is up 49% in the same timeframe. Those rallies make sense. Investors now widely expect the Federal Reserve to cut benchmark interest rates in September, especially after Jerome Powell's comments last week. Lower mortgage rates should help revive the struggling housing market, boosting Opendoor and Redfin. But if you're trying to choose between these two stocks, which is the better one to buy today? Let's take a look to see who c
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News
- Are 'we buy houses' offers a rip-off? How to know if you're getting scammed. [Yahoo! Finance]Yahoo! Finance
- David Benson joins Opendoor Board of DirectorsGlobeNewswire
- Prediction: These 2 Stocks Will Soar If Interest Rates Are Cut This Month [Yahoo! Finance]Yahoo! Finance
- Opendoor (OPEN) Stock Trades Down, Here Is Why [Yahoo! Finance]Yahoo! Finance
- Opendoor Technologies Inc. (OPEN) 2024 Goldman Sachs Communacopia and Technology Conference (Transcript) [Seeking Alpha]Seeking Alpha
OPEN
Earnings
- 8/1/24 - Beat
OPEN
Sec Filings
- 9/12/24 - Form 4
- 9/12/24 - Form 3
- 9/12/24 - Form 8-K
- OPEN's page on the SEC website