Has Opendoor Technologies' Stock Peaked?
The danger of investing in meme stocks is their valuations can fluctuate wildly from one day to the next. And they can move significantly even if there aren't any big news events. This is where it can be incredibly difficult to predict the path of these types of stocks.
Opendoor Technologies (NASDAQ: OPEN) is a prime example of a meme stock that has taken off this year. Even though its financials don't look great and the home-flipping business that it's in is far from ideal, the stock has surged 365% as of Oct. 17 this year.
There has, however, been a bit of a slowdown in the stock of late. It hit a high of $10.87 in September, but it's nowhere near those levels today; in the past month, it has declined by around 20%. Could this be a sign that Opendoor's stock has peaked, and that more of a decline could be coming? Or is this a good time to invest in the company, while its price is lower?
Source Fool.com
