Why Opendoor Technologies Stock Popped Today
Shares of Opendoor Technologies (NASDAQ: OPEN) were among today's winners on the stock market as the home-flipping specialist was one of several real estate stocks to jump after the Bureau of Labor Statistics reported weaker inflation numbers than expected for October. There was no company-specific news out on Opendoor today, but the inflation news was enough to drive a significant movement in the stock.
The news makes it less likely that the Federal Reserve will continue to raise interest rates, which would be a boon for companies like Opendoor that are sensitive to mortgage rates.
As a result, the stock finished the day up 12.8%.
Source Fool.com
