Why Opendoor Technologies Stock Is Soaring Today
Shares of Opendoor Technologies (NASDAQ: OPEN) are jumping on Tuesday, up 6.5% as of 1:16 p.m. ET, and were up as much as 9.7% earlier in the day. The jump comes as the S 500 has lost 1.3% and the Nasdaq Composite has lost 1.5%.
The meme stock is on the move again today, continuing to climb after the investor largely responsible for kicking off Opendoor's original meme rally appeared on Yahoo! Finance's show "Opening Bid" last Thursday and called the company the " of real estate."
The head of EMJ Capital, Eric Jackson, made some pretty bold statements. He believes that Opendoor is in a unique position to transform the homebuying experience and become the go-to consumer platform for buying and selling real estate, much like Uber and Airbnb in their respective markets. He also believes that the company has a huge amount of data that it can use to leverage artificial intelligence, boosting efficiency in homebuying and reducing costs.
Source Fool.com
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