Shares in Opendoor Applied sciences (OPEN) inventory are booming throughout Monday’s buying and selling session, up over 15% on the US inventory market. The inventory is nearing a brand new ATH, replicating a rally it noticed in early September after it appointed a brand new COO. Buyers have been extraordinarily constructive of this improvement, shortly shopping for into OPEN inventory and sending it surging in worth final month.
The corporate additionally named co-founder Keith Rabois as chairman of the board final month and reappointed to the board co-founder Eric Wu. “Actually, there was just one alternative for the job: Kaz. I’m thrilled that he shall be serving as CEO of Opendoor,” Rabois mentioned. “He’s a confirmed govt with a founder’s mind. He’s the precise chief to unlock Opendoor’s distinctive knowledge and belongings as we construct on Opendoor’s authentic mission, now enhanced as an AI-first firm.” Moreover, Wu lately made headlines after buying $2B in OPEN shares.
Opendoor Applied sciences has grow to be one thing of a meme inventory lately, following the trail of AMC and GameStop throughout their inventory surges. Opendoor shares at the moment are up over 1,800% since late June, following an inflow of people on social media who started shopping for the inventory and demanding administration adjustments. The so-called Open Military is a free assortment of retail buyers who’ve turned Opendoor right into a fast-rising meme inventory.
Regardless of no massive information at the moment, Opendoor inventory opened at the moment’s buying and selling with enormous positive factors. Therefore, at the moment’s strikes might probably be one other meme inventory bull rally. Whereas the inventory has given up a lot of the rally it noticed early within the session, it’s nonetheless up 417% throughout this yr’s buying and selling continues to be buying and selling 17% under its 52-week excessive of $10.52 from September 2025.
