Opendoor Stock Is Now 97% Off Its Highs, But 1 Wall Street Analyst Thinks It Could Double This Year
Saying it's been rough for Opendoor Technologies (NASDAQ: OPEN) over the past two years is an understatement. The real estate technology company, once a market darling, has been crushed under the weight of higher interest rates. With higher mortgage rates, homeowners aren't selling, and with little on the market, there's not much to buy.Opendoor stock is now about 97% off its highs and trades for just over $1 per share. That's either a value trap, or one of the best deals in market history. Either way, it's a huge risk, but at that price, there's not so much to lose. At least one Wall Street analyst thinks that Opendoor stock is going to double over the next 12 months. Here's what you need to know.Opendoor is one of several real estate companies that are using digital means to disrupt the industry. Its main service is ibuying, or buying homes in bulk to fix up and resell. By relying on artificial intelligence (AI) and machine learning to find attractive values and price them for resale, and operating an online marketplace, Opendoor thinks it can improve the process and offer a better product.Continue reading
Saying it's been rough for Opendoor Technologies (NASDAQ: OPEN) over the past two years is an understatement. The real estate technology company, once a market darling, has been crushed under the weight of higher interest rates. With higher mortgage rates, homeowners aren't selling, and with little on the market, there's not much to buy.
Opendoor stock is now about 97% off its highs and trades for just over $1 per share. That's either a value trap, or one of the best deals in market history. Either way, it's a huge risk, but at that price, there's not so much to lose. At least one Wall Street analyst thinks that Opendoor stock is going to double over the next 12 months. Here's what you need to know.
Opendoor is one of several real estate companies that are using digital means to disrupt the industry. Its main service is ibuying, or buying homes in bulk to fix up and resell. By relying on artificial intelligence (AI) and machine learning to find attractive values and price them for resale, and operating an online marketplace, Opendoor thinks it can improve the process and offer a better product.
