Opendoor shares turn negative as hyped real estate stock fails to sustain meme rally
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The ticker $OPEN has been heavily cited on WallStreetBets, the online forum behind the infamous GameStop mania in 2021.
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3 min read
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real estate
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July 22, 2025
08:12 PM
CNBC
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The analysis demonstrates From an analytical standpoint, In this articleOPEN your favorite stocksCREATE FREE ACCOUNTCourtesy: OpendoorOpendoor nologies attracted sudden interest among Reddit-obsessed retail traders, who pushed up the stock price by threefold in days, but the speculative run ran out of steam on Tuesday
The data indicates that online real estate startup saw its s slide more than 10% on Tuesday after surging 24% earlier in the day (which is quite significant)
Market analysis shows had jumped more than 42% in Monday's session with trading halted multiple times due to volatility
However, Stock Chart IconStock chart iconOpendoor, 1 dayThe meme cohort appeared to be focused on Kohl's, with its s closing up nearly 38% on Tuesday
Half of Kohl's float s are sold short, according to FactSet, in light of current trends
Opendoor, which had been trading mostly under $1 this year, hit a high of $4 (quite telling), in today's market environment. 97 during Monday's session and closed the day at $3
Its meteoric rally pushed the stock up by 400% in July alone even with Tuesday's pullback
Stock Chart IconStock chart iconOpendoor nologies in one monthThe ticker $OPEN has been heavily cited on WallStreetBets, the online forum behind the infamous GameStop mania in 2021
Furthermore, It gained traction on the internet partly after hedge fund manager Eric Jackson, an investor in Opendoor, started touting the stock, saying it can reach $82 a
Nevertheless, "HODLTHE($OPEN)DOOR," one post reads, amid market uncertainty
In contrast, Trading volumes exploded with 1 (an important development)
Nevertheless, 9 billion of Opendoor s exchanging hands on Monday, more than 1,700% of the three-month average, according to FactSet, in light of current trends
Furthermore, 22% of Opendoor's available s are sold short, meaning short-covering could be at play during this run (something worth watching), in this volatile climate
Additionally, Short sellers tend to buy back s to cut their losses when their short target rallies suddenly, and their buying can further push up the stock
Heightened options trading in the name also intensified the rally
Additionally, Bespoke Investment Group called Opendoor a "poster child" for the recent wave of options market optimism (quite telling), given current economic conditions. "That stock is up 500% in three weeks; total call open interest has tripled over that time period, Bespoke said in a note to clients. "Surges in call buying are driving extreme moves higher for a small slice of the market, even as most other stocks drop. "When Opendoor went public through a special purpose acquisition company in 2020, it was riding a SPAC wave and broader gains driven by low interest rates and Covid-era market euphoria
Opendoor's involved using nology to buy and sell s, pocketing the gains
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