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However, as tech stocks went into a bear market in 2022 and the housing market froze as interest rates surged, Opendoor plunged. Opendoor stock is now down a whopping 95% from its peak in 2021.
Real estate technology company Opendoor Technologies (NASDAQ: OPEN) stock dropped 32% in December, according to data from S&P Global Market Intelligence. Mortgage rates went back up after receding ...
They have a lot of exposure to the housing market, which has sunk both stocks in the post-pandemic slump. As the chart below shows, Opendoor and Redfin are both down sharply from their previous peaks.
The Motley Fool has positions in and recommends Offerpad Solutions, Opendoor Technologies, Redfin, and Zillow Group. The Motley Fool recommends the following options: short November 2024 $13 calls ...
Opendoor (NASDAQ: OPEN) reported third-quarter earnings that exceeded its own optimistic expectations, but the stock isn't higher in the weeks ahead. In fact, unlike most of the market, Opendoor ...
Opendoor’s stock fell 2.4% to $4.79 on Monday. Opendoor pioneered the model, often called ibuying, and competed with Zillow Group Inc. until the online listing giant exited the business last year.
The company is hurting from rising mortgage rates for residential real estate loans.
The real estate tech leader is taking steps to get back on track.