Opendoor Technologies Inc (NASDAQ:OPEN) stock is trending on Monday, following a viral social media post.
Check out how OPEN stock is trading here.
What Happened: Opendoor Technologie stock price surged to $3.21 on Monday, marking a 42.67% increase. The after-hours price was recorded at $3.47, reflecting an 8.10% rise.
The surge in the U.S.-based real‑estate company stock price is part of a broader trend of retail investor interest driving up share prices. On Monday, the stock soared as much as 115% in an intraday rally, triggering a volatility-related halt.
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Eric Jackson, a hedge fund manager, stirred up the market last week with a viral social media post suggesting that Opendoor’s stock price could increase to $82 per share. This has further fueled the frenzy around Opendoor’s stock.
Why It Matters: Despite an uncertain financial outlook and macroeconomic headwinds facing the housing market, Opendoor’s stock has continued to rise. The momentum appears to be driven by retail investor interest, with shares seeing abnormally high volume.
Analysts have noted that the stock is extremely overbought, and it is getting close to a price that had previously been a peak. This has led to questions about where the Opendoor rally will end, with some suggesting that the stock is worth $40 now.
Despite the uncertainty, Opendoor’s stock continues to soar, with the after-hours trading on Monday marking an increase in the company’s stock valuePrice Action: MP stock closed up at 19.99% at $58.22 during regular trading hours on July 15.
Price Action: OPEN stock closed up at 42.67% at $3.21 during regular trading hours on July 21.
With a strong Momentum in the 81st percentile, Benzinga’s Edge Stock Rankings indicate, Opendoor Technologies stocks have positive trends across all time frames. Additional performance details are available here.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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