Better Home & Finance Holding Co (NASDAQ:BETR) shares are soaring on Tuesday on continued momentum after hedge fund manager Eric Jackson recently announced a long position.
What To Know: Jackson has become popular among retail investors after sparking a rally in shares of Opendoor Technologies Inc (NASDAQ:OPEN) earlier this year, calling the stock a potential “100-bagger.” The hedge fund manager pitched Better Home as a potential “350-bagger” this week, which led to some heavy volatility in the name.
“I believe BETR is a potential 350-bagger in 2 years. They laugh at BETR now at $34 like they laughed at CVNA at $3.50 and OPEN at 51¢. But this is no meme,” Jackson said in an X post on Monday.
Jackson called Better Home the “Shopify of mortgages” and suggested the company is growing faster than competitors in the space. He argued that the stock should be trading at $626 per share right now and has a path to reaching $12,000 per share within two years.
The bullish pitch from Jackson sent shares soaring as much as 175% on Monday before closing the day up about 46%, according to Benzinga Pro.
How To Buy BETR Stock
By now you're likely curious about how to participate in the market for Better Home & Finance – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
BETR Price Action: Better Home & Finance shares closed Monday up 46.61% at $49.98. The stock was up another 21.15% on Tuesday, trading at $60.42 at the time of publication, according to Benzinga Pro.
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