Opendoor Is Down 53% So Far in 2024. Is It a Buy Before the Fed Starts Cutting Rates? [Yahoo! Finance]
Opendoor Technologies Inc (OPEN)
Company Research
Source: Yahoo! Finance
What's more, Opendoor recently reported second-quarter results that surpassed even the high end of management's expectations. So with the Federal Reserve set to start lowering interest rates, and a general sense of optimism that the housing market is about to pick up steam, is now a great time to buy Opendoor while it's so beaten down? Opendoor's strong second-quarter numbers Despite a persistently sluggish real estate market, Opendoor delivered impressive results in the second quarter. The company bought 4,771 homes, up 78% year over year and significantly higher than its guidance called for. It sold 4,078 homes, so it built its inventory a bit. Furthermore, contribution margin, a profitability metric that takes into account the costs of holding a home on the balance sheet, came in at 6.3%, well above the 5.4% to 5.7% range the company had guided for. On an adjusted EBITDA basis, Opendoor lost $5 million for the quarter, far better than the expected loss of $30 million at the
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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