Why Opendoor Technologies Stock Was Creeping Higher This Week
House-flipping company Opendoor Technologies (NASDAQ: OPEN) was a sprightly stock at times this week. It was a yo-yo as far as its price was concerned; at one point it was up more than 15% over Friday's close, but had settled down to a 2.9% gain week to date Thursday night, according to data compiled by S&P Global Market Intelligence. Several dynamics were tugging the stock in various directions.
The first occurred on Monday, when Morgan Stanley analyst Matthew Cost launched coverage on Opendoor stock. The prognosticator's recommendation on the shares was only equal weight (hold, in other words) with a price target of $4.25 per share.
Still, that was sufficient to bring fresh investor attention to the stock. What's more, the initiation of Opendoor coverage accompanied a broader take by Cost on the current state of the U.S. housing market.
Source Fool.com
