Opendoor, Kohl's and new york stock exchange
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Amid this week's speculative frenzy in a handful of meme stocks, we asked AI what to look for when trying to pick the next candidate to go parabolic.
Opendoor's flawed business model struggles amid rising mortgage rates and housing downturns. Click here to read an analysis of OPEN stock now.
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A company that lets homeowners quickly sell their homes has been the focus of frenzied stock trading over the last several days.
The ticker $OPEN has been heavily cited on WallStreetBets, the online forum behind the infamous GameStop mania in 2021.
No one knows where Opendoor stock is headed in the short term, though volatility seems guaranteed. Volatility does create opportunity, but it also increases the risk for catastrophic losses as existing shareholders have experienced with the stock down more than 20% on July 23.
Opendoor (OPEN) has become the latest meme stock phenomenon, surging 350% in the past month and 100% since hedge fund manager Eric Jackson began promoting it on social media as a potential “100-bagger.
Krispy Kreme (DNUT), Opendoor (OPEN), Rocket Mortgage (RKT) and Kohl’s (KSS) had become the meme stocks of the moment, along with a new moniker from traders — “DORK,” a reference to the first letters of their tickers.
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.