Retail Traders Revive Opendoor Stock in Stunning Meme-Style Comeback
If you’ve been watching the stock market this past week, you may have noticed a surprising name popping back up on the radar: Opendoor. Yes, that Opendoor — the online home-flipping company that once went public through a SPAC with big dreams during the pandemic boom. It had all but faded from the spotlight, with shares languishing below a dollar and whispers of a possible Nasdaq delisting. But suddenly, the tide turned — and it turned fast.
Retail traders, hedge fund chatter, and meme stock momentum have now catapulted Opendoor’s stock more than 100% higher in just a matter of days. So, what’s going on?
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Well, this all started when Eric Jackson, founder of EMJ Capital, posted on X (formerly Twitter) that his firm had taken a significant position in Opendoor. He laid out a bold thesis, calling the company a deep value play with turnaround potential. Not only that — he slapped on an eye-popping price target of $82 per share, up from around $1.70 at the time. That’s more than a thousand percent upside.
Naturally, that kind of statement doesn't go unnoticed — especially not in the age of meme stocks. Retail traders across platforms like r/WallStreetBets and StockTwits lit up with excitement. One user even revealed they had already put $155,000 into Opendoor, anticipating a turnaround. Trading volume exploded to nearly 250 million shares — almost triple its usual levels — and sentiment turned “extremely bullish.”
Now, let’s be clear: Opendoor still has major challenges. Since its 2020 IPO, the company has yet to post an annual profit. It’s dealing with a sluggish real estate market and ongoing concerns about its iBuying model. Just weeks ago, it was considering a reverse stock split to avoid being delisted — a move typically seen as a red flag.
But when retail enthusiasm meets short interest — and Opendoor has plenty of that, with 22% of its float loaned out to short-sellers — you’ve got the ingredients for a textbook short squeeze. And that’s what we’re seeing unfold now.
Some analysts are skeptical, though. Goldman Sachs has slapped a $0.90 price target on the stock, maintaining a sell rating. Others argue the recent spike is based more on speculation than fundamentals, pointing to Opendoor’s declining margins, rising inventory, and unproven profitability.
Whether you see Opendoor as a savvy contrarian buy or a bubble waiting to pop, one thing’s certain: the stock is no longer flying under the radar. The retail crowd has spoken — and for now, they’re betting big on a comeback.
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