Fund manager Eric Jackson, who’s been responsible for igniting iBuying platform, Opendoor Technologies Inc.’s (NASDAQ:OPEN) 875% rally over the past few weeks, just shared the unusual support that he has received from an unexpected region of the world.
OPEN stock is showing exceptional strength. See the market dynamics here.
North Korean Investor Gets In On Opendoor?
On Monday, in a post on X, Jackson shared the screenshot of a message he received, supposedly from an Opendoor investor in North Korea.
“We got our first member from North Korea,” Jackson says, while sharing the screenshot, and adding that he was allowed to share it, and that the investor in question “wouldn’t get in trouble.”
The message reads, “I’m a $open holder from North Korea,” before adding “let’s go $82, here we come,” which refers to Jackson’s price target for Opendoor, representing an upside of 2,104% from current levels. Jackson responds, asking for proof, to which the investor gets back with a selfie standing in front of Pyongyang’s Kim Il Sung Square.
While North Korea’s strict internet controls and U.S. sanctions make such claims improbable, the post did manage to spark amusement online.
A User on X has since pointed out that the selfie shared by the investor belongs to a Philippine goalkeeper, Neil Etheridge, who took it while visiting the hermit nation on Oct. 7, 2015, in front of the Kumsusan Memorial Palace in Pyongyang, according to a report by The Daily Mail.
Opendoor Rallies As CEO Steps Down
Shares of Opendoor were up 19.24% on Monday, closing at $3.78, following up on 7% rally on Friday, when the company’s CEO, Carrie Wheeler, announced that she would be stepping down, after weeks of criticism and mounting pressure from Jackson and other retail investors.
The company’s shares are up more than 58% over the past five days, after prominent investor and podcast host Anthony Pompliano said that he had acquired shares in the company last week.
“I have personally purchased shares in $OPEN today. I believe retail investors are a powerful force in financial markets. They can help a company grow, generate new ideas, and bring valuable attention to a narrative,” Pompliano said in a post on X.
Opendoor scores high in Benzinga’s Edge Stock Rankings for Momentum and Value, with a favorable price trend in the short, medium and long terms. Click here for deeper insights into the stock, its peers and competitors.
Photo Courtesy: ZikG on Shutterstock.com
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