Why Opendoor Stock Dropped 12% in January
Shares of Opendoor Technologies (NASDAQ: OPEN) stock fell 12% in January, according to data provided by S&P Global Market Intelligence. There wasn't any news specific to Opendoor's business, but the stock had soared on retail investor sentiment, and it's been slowly coming back to earth as it gets closer to the company's next earnings report.
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Opendoor is using digital technology to disrupt the real estate industry. Its main business is iBuying, or buying up groups of homes, fixing them up, and reselling them. However, it has several ancillary businesses, including a marketplace and mortgages, and it envisions being a "one-stop shop" for all a buyer's needs.
Source Fool.com
