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Why Opendoor Stock Popped Today

TheMotleyFool

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Shares of Opendoor Technologies (NASDAQ: OPEN) surged today, seemingly in response to President-elect Trump's plans to make hedge fund manager Scott Bessent the next Treasury secretary.

Treasury yields fell on the news, which is good for stocks like Opendoor, as Bessent is expected to be a sober steward of the economy, helping to rein in the deficit and keeping the company's financial house in order. Stocks that are sensitive to interest rates, like Opendoor, jumped on the news, and Opendoor shares finished the day up 14.6%.

Image source: Getty Images.

Source Fool.com

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