Opendoor Technologies is trading like it’s finally ready to flip the script. OPEN closed today at $1.48, up 42.31%, with over 303 million shares exchanged. That volume tripled its 90-day average. And no, this isn’t about earnings. It’s retail volume chasing an asymmetric setup. The stock is moving off the back of short squeeze mechanics, viral momentum, and a turnaround thesis that’s anchored in cost cuts and steady fundamentals.
OPEN has been grinding through the real estate wreckage since 2022. Zillow is out, Offerpad folded, Redfin pivoted. Opendoor survived. The company narrowed losses last quarter and is guiding toward its first profitable report in two weeks. It’s not burning cash like it was in 2021. Revenue hit $1.2 billion last quarter. Gross margin is now 8.2%. And Opendoor holds a market cap just under $760 million. That’s thin. Especially when you look at the cash on the books. Debt is high with a 3.92 debt-to-equity ratio, but the business isn’t collapsing.
Retail traders on Reddit and X spotted it early. The float is light. The stock’s cheap. And it looks nothing like the meme setups of years past. People aren’t chasing tweets here—they’re stacking shares, comparing it to Carvana, and betting long on housing tech. Posts show five- and six-figure positions being taken without hedges. That’s conviction.
Short interest is 25%. That’s heavy. The borrow is cheap, but with volume spiking and sentiment shifting, shorts are exposed. Every uptick adds to the squeeze risk. OPEN has resistance near $1.85 and support around $1.18. Price action this week shows pressure building into the July 28 reverse split vote.
The company is rolling out its Key Agent tool to optimize home assessments and streamline listings. That’s a direct fix to margin drag. CEO Carrie Wheeler is pushing to stabilize operations and expand agent integrations. Valuation models are tightening. Institutional flow is still light, but if OPEN posts profit in two weeks, that changes.
Macro tailwinds are forming. Rates are expected to ease in Q4. Mortgage demand is bottoming. Home inventory is tight. And consumers are sitting on three years of market gains with cash to spend. That’s the setup. Not hype—just numbers.
Bearish side? Burn rate is still visible. Net losses ran $85 million last quarter. Regulatory pressure around home tech hasn’t gone away. And meme-driven pops always carry blowback risk. But OPEN’s shareholder base is shifting. Less about daily swings, more about multi-year upside. That’s a different signal.
Opendoor has survived the washout. It’s not the flashy startup anymore. It’s the last one standing in iBuying. The chart looks wild. But the thesis is grounded.
Disclaimer: Not financial advice.
Sources:
https://www.fool.com/investing/2025/07/16/why-opendoor-technologies-stock-popped-today/
https://www.timothysykes.com/news/opendoor-technologies-inc-open-news-2025_07_16/
https://www.msn.com/en-us/money/topstocks/why-is-opendoor-open-stock-soaring-today/ar-AA1IF0TT