Why Opendoor Technologies Stock Skyrocketed 21.5% Today

Shares of Opendoor Technologies (NASDAQ: OPEN) soared on Monday, finishing the day up 21.5%. The jump comes as the S 500 (SNPINDEX: ^GSPC) gained 1.5% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) rose 2.2%.

Opendoor reported its first quarterly earnings on Friday since CEO Kaz Nejatian took the reins in September. While the numbers were mixed, investors were satisfied given Nejatian's vision for the company.

The company narrowly missed Wall Street's earnings-per-share (EPS) target, reporting a loss of $0.08 per share when a $0.07 loss was expected. And while it did manage to deliver $915 million in revenue when $850 million was expected, that still represents a 34% decline from the same period last year.

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Source Fool.com