Why the Opendoor Rally Fizzled This Week
Opendoor Technologies (NASDAQ: OPEN) soared earlier this month as meme stock investors lined up behind the stock under the guise that it could be the next .
However, after Opendoor peaked on July 21, the rally continued to fade this week, even though there was little news out on the stock. Instead, investors who had bought Opendoor for less than $1 early in the rally seemed to cash in their winnings, and interest from new investors wasn't enough to push the stock higher. There was also one news item that may have weighed on the stock as well.
According to data from S&P Global Market Intelligence, the stock was down 22.8% for the week as of Thursday at 1:29 p.m. ET.
Source Fool.com
Carvana Co. Aktie
59,28 €
-1,48 %
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