Down 94% From Its High, Is This Growth Stock Finally a Buy? [Yahoo! Finance]
Opendoor Technologies Inc (OPEN)
Company Research
Source: Yahoo! Finance
It's a cyclical business and with today's high interest rates, real estate stocks have plummeted. Opendoor Technologies (NASDAQ: OPEN) , a real estate technology company that intends to disrupt the status quo, is down in the dumps right now. Its stock has fallen 94% from the all-time high recorded in early 2021. Is a rebound coming? No relief in the short term Opendoor's business doesn't look so pretty these days, and it hasn't for a while. With higher interest rates, homeowners are reluctant to part with their property and buy a new one at a high interest rate. That means fewer homebuyers and fewer homes on the market. The first quarter is one snapshot, but it's representative of the ongoing woes at Opendoor. Revenue dropped 62% year over year in the quarter, and its net loss totaled $109 million. It had an inventory of 5,706 homes, down 11% year over year. There were some wins in the quarter, or at least signs of progress. Gross margin was 9.7%, up from 5.4% a year ago. Th
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News
- 1 Growth Stock Down 94% to Buy Right Now [Yahoo! Finance]Yahoo! Finance
- Better Real Estate Stock to Buy: Opendoor vs. Redfin [Yahoo! Finance]Yahoo! Finance
- Interest Rates Are About to Fall. Can Opendoor Finally Break the iBuying Curse? [Yahoo! Finance]Yahoo! Finance
- Opendoor Is Down 53% So Far in 2024. Is It a Buy Before the Fed Starts Cutting Rates? [Yahoo! Finance]Yahoo! Finance
- Opendoor Technologies: Valuation Approaching An Attractive Entry Point [Seeking Alpha]Seeking Alpha
OPEN
Earnings
- 8/1/24 - Beat
OPEN
Sec Filings
- 8/30/24 - Form 4
- 8/16/24 - Form 4
- 8/7/24 - Form 4
- OPEN's page on the SEC website