Opendoor Stock Now Costs Less Than a Slice of Pizza. Is There Any Way Back?
The market liked its recent update, but it will take more than that for the company to rebound.
Opendoor Technologies' (NASDAQ: OPEN) misfortunes continue to deepen as the real estate market remains stuck, with no light showing yet at the end of the tunnel. It's joined the ranks of penny stocks and keeps sliding, down 56% this year alone and trading at dangerously low levels at under $1 per share.
Is there any hope left for Opendoor, or should investors stay far away?
Opendoor is an iBuyer, which means it buys homes directly from sellers, fixes them up, and then sells them at a higher price. It's a simple business model that individuals have been using forever, and Opendoor takes it up a notch by scaling it into a full, digitally supported platform. It also offers an assortment of complementary services, such as an online marketplace and agent services, and it's always expanding its features to meet demand and create options for sellers and buyers.
