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Why Opendoor Stock Fell Hard This Week

TheMotleyFool

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Shares of the online housing brokerage Opendoor Technologies (NASDAQ: OPEN) plunged 23% this week, according to data compiled by S&P Global Market Intelligence, after the latest data showed that housing sales slowed to their lowest pace since 2009.

Housing inventory climbed quickly, but sales slowed as potential homebuyers shunned high prices, elevated interest rates, and economic uncertainty. With an unpredictable macroeconomic climate, investors are concerned that more pain could be ahead for the housing market and Opendoor.

Image source: Getty Images.

Source Fool.com

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