Prediction: This Stock Down 94% Will Soar With Lower Interest Rates [Yahoo! Finance]
Opendoor Technologies Inc (OPEN)
Company Research
Source: Yahoo! Finance
Lower rates are meant to boost the economy and should result in more money changing hands and higher revenue for many struggling companies and industries. Opendoor Technologies (NASDAQ: OPEN) is a real estate technology company that wants to change how Americans buy and sell their homes. Residential real estate is one of the largest industries in the country, and the opportunity is enormous. Its stock is down 94% from its highs. As interest rates decline and the real estate industry rebounds, Opendoor stock could skyrocket. So far, not so good Opendoor's business has been absolutely crushed by rising mortgage interest rates. Homeowners aren't selling because they don't want new mortgages at higher rates, so buyers aren't finding much available. The company's revenue is down 24% from last year, and that was already down 53% from the year before. Things have only been getting worse. According to Redfin data, August home sales fell 4.7% year over year, while the median housing
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News
- Opendoor: Macro Uncertainty Is More Important Than Rates [Seeking Alpha]Seeking Alpha
- 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
OPEN
Earnings
- 8/1/24 - Beat
OPEN
Sec Filings
- 9/17/24 - Form 4
- 9/17/24 - Form 4
- 9/17/24 - Form 4
- OPEN's page on the SEC website