Why Opendoor Technologies Stock Is Plummeting Today
Opendoor Technologies (NASDAQ: OPEN) stock is selling off rapidly in Wednesday's trading. The company's share price had fallen 8.2% as of 12:45 p.m. ET today and had been down as much as 13% at the start of the day's trading.
While there doesn't appear to be any major business-specific news driving the stock pullback, the real estate specialist is losing ground amid concerns about inflation and valuations for artificial intelligence (AI) stocks that are affecting the broader market. Today's sell-off also comes on the heels of a huge pop for the stock over the last week. Even with a recent valuation contraction, the company's share price is up 333% over the last three months as of this writing.
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Source Fool.com
