Opendoor stock surges, retail traders pile in: Trending Tickers

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00:00 Speaker A

Let’s check in on one of the top trending tickers on the Yahoo Finance homepage. Shares of real estate platform Opendoor surged on Thursday, as retail traders piled into that name. This new excitement in Opendoor comes after activist investor Eric Jackson expressed interest in that stock, telling Market Watch he thinks the stock could trade over $80 a share in the next couple years. It’s currently around buck 70. Uh, Kale, let’s talk about this one. Our colleague, by the way, Jake Connolly has a a great story on this. Um, and Jake was pointing out, what a move! I mean, one one month’s gains were nearly 200%. The retail enthusiasm, as we mentioned, you got, you know, well-known guys like Eric Jackson, he’s part of the story. He posts on X, by the way, believes it could be a 100 bagger over the next few years. Traders seem to have piled in. What do you make of it?

01:35 Speaker B

Yeah, well, again, meme stock 3.0. This company lost some $85 million in the most recent quarter, right? It’s purchasing properties. It purchases real estate properties in a real estate market that’s essentially dead right now. Uh, but it is highly shorted, and highly shorted sends out the antenna signals for the meme stock crowd because that says, “Pile on in,” especially when you have some backing and some big investors who are starting to show interest in it. But, in terms of results, they’re not there on the on the financial statements, but they’re starting to get there on the stock price. These things usually don’t end well. Well, hopefully this one won’t have that same type of ending.