Opendoor Technologies has recently gained favor as a meme stock and seen incredible valuation gains, but the company's share price is pulling back today as investors take profits on recent gains. Despite big sell-offs in today's session, the stock is still up 330% over the last month.

Retail investors have begun to pile into speculative bets on small-cap companies in a buildup that resembles the meme stock frenzy of 2021.

A surge in shares of residential real estate platform Opendoor Technologies has been boosted by the portfolio manager of a small Canada-based hedge fund, Eric Jackson.

The ticker $OPEN has been heavily cited on WallStreetBets, the online forum behind the infamous GameStop mania in 2021.

The latest meme-stock frenzy shows that “market psychology and crowd behavior can sometimes matter more than the numbers,” says Capital.com analyst Daniela Sabin Hathorn

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Opendoor Technologies shares surged as much as 24% Tuesday before reversing early gains, as retail investors drove wild swings in the meme stock.