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Why Opendoor Technologies Stock Popped Today

TheMotleyFool

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Why Opendoor Technologies Stock Popped TodayPhoto, wide shot, wide-angle lens, Private equity firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/2b695cca-48cb-4195-802a-e3385fb90ec0.png

Shares of Opendoor Technologies (NASDAQ: OPEN) were among the winners today after Fed Chair Jerome Powell gave dovish remarks about interest rates at a closely watched speech in Jackson Hole, Wyoming.

Real estate stock investors have been anticipating news that the Federal Reserve would lower rates soon, and Powell's embrace of rate cuts sent Opendoor and its real estate tech peers soaring today. As of 1:02 p.m. ET, shares of the online real estate flipper were up 13.1%.

Image source: Getty Images.

Source Fool.com

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