#2 - Opendoor (NASDAQ:OPEN)
Timing matters a lot in investing. And so it is that Opendoor (NASDAQ:OPEN) became a publicly traded company in June 2020. The housing market was red hot, and Opendoor rode that wave. The company provides the ability for individuals to buy and sell their homes online. It was a perfect solution in the midst of a pandemic.
The company’s revenue has grown sharply in the last year, and the company has posted two straight profitable quarters. Institutional investors hold an impressive 71% of the stock. The company is also cutting staff in an effort to keep that profit coming in as the market softens.
All of this means there are likely to be better days to come for the company. But someday is not today. OPEN stock is down 88% in 2022. And the combination of a softening housing market and rising interest rates is creating headwinds that, for now, make it time for investors to shut the door.
About Opendoor Technologies
Opendoor Technologies Inc operates a digital platform for residential real estate transactions in the United States. It buys and sells homes. The company's product offerings comprise sell to opendoor product that enables homeowners to sell their home directly to it and resell the home to a home buyer; list with opendoor product that allows customers to list their home on the MLS with opendoor and receive cash offer; and opendoor marketplace product that connects the home seller with an institutional or retail buyer.
Read More - Current Price
- $1.71
- Consensus Rating
- Hold
- Ratings Breakdown
- 1 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $2.84 (66.0% Upside)
