Could Opendoor Technologies Be a Millionaire-Maker Stock?
Opendoor Technologies (NASDAQ: OPEN) operates an interesting housing-related business. There are reasons to like the stock if you are an aggressive investor. But there are also some very big reasons to be cautious. Before you buy Opendoor Technologies thinking it will make you a millionaire, you'll want to dig a bit deeper into the company's story.
From a simple perspective, Opendoor is a house flipper. It steps in to quickly buy homes in whatever condition they are in, easing the process for home sellers. Then Opendoor fixes up the houses it buys and sells them, hopefully at a higher price than what it paid. It uses a proprietary computer algorithm to help it select which houses to buy, and where, in 50 or so markets.
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Source Fool.com
