In this articleOPEN your favorite stocksCREATE FREE ACCOUNTOpenDoor is disrupting the real estate market with its new model.
It buys s and sells them on its platform.OpendoorOpendoor stock rocketed 60% higher on Thursday after the retail favorite named Shopify executive Kaz Nejatian as CEO and co-founder Keith Rabois as chairman.The meme stock hit a 52-week high and continued a stunning run this year, with s up more than 400% so far.Former CEO Carrie Wheeler resigned last month ing a pressure campaign from investors that included critical s from Rabois and hedge fund manager Eric Jackson, who has been a key part of the stock's resurgence this year.Jackson built a massive ing on X in part due to his successful bet on Carvana, and then turned his attention to cheering a turnaround at Opendoor.Read more CNBC newsAlphabet's Verily covered up HIPAA violations, whistleblower says in lawsuitKlarna stock jumps 15% in NYSE debut after pricing IPO above rangeLarry Ellison is $100 billion richer after blowout Oracle earnings reportAmazon's Zoox jumps into U.S.
robotaxi race with Las Vegas launchOpendoor said Wednesday that it was "going into founder mode" by bringing Rabois and Eric Wu, who served as the company's first CEO before stepping down in 2023, back to the board.The company went public through a special purpose acquisition company in 2020.
Opendoor's involves using nology to buy and sell s, pocketing the gains.Nejatian said the company will use artificial intelligence to make the cess of buying and selling a "radically simpler, faster and more certain."s of Opendoor traded below $1 earlier this year, and the company was in danger of being delisted from the Nasdaq.Stock Chart IconStock chart iconopendoor year to date stock chart.Don’t miss these insights from CNBC Nobel winner Joseph Stiglitz has a warning for bond investorsAs traditional 60/40 portfolios get riskier, BlackRock says investors should rethink their allocationsGoldman adds Walmart to September 'conviction list.' Here's who else made the cutNvidia retail buyers are getting exhausted