Opendoor stock continues rally amid social media fueled frenzy, Eric Jackson says ‘it's worth $40 now'
As of 1:14 PM EDT, the stock jumped 93.78% at $4.36 in New York.
The surge started after Eric Jackson, founder of Toronto-based hedge fund EMJ Capital, praised the stock on social media platform X late last week.
On Friday, Jackson said in an interview that he's bullish on Opendoor because of its dedication to optimized profitability and how it manages costs and headcount.
In a viral post, he suggested that the stock price could rise one hundredfold to $82 per share.
Over the weekend, he posted his thoughts on why the stock should be trading at $40 per share right now.
"Everyone keeps asking me, 'What's $OPEN worth now?' We know it's worth $82 in a few years," Jackson wrote in a post on X.
"The answer is it's worth $40 now after they report a profitable quarter with hints that they're at steady -state profitability going forward," he added.
Roughly 340 million shares exchanged hands in Friday's intraday trading, more than 346% of the three-month average.
The company made its public market debut in 2020 by merging with a special purpose acquisition company.
Its stock price has slumped since a boom in early 2021. The stock was down 51% this year before Friday's jump.
Opendoor is set to report its second quarter results on August 6.
The company is expected to report a loss of 1 cent per share and revenue of $1.5 billion for the quarter, reported Benzinga.
But Jackson stated that if the company achieves steady-state profitability, its valuation should be higher, similar to Carvana.
"They'll do $5.75B in rev next year. They deserved a forward EV/Rev multiple of 5x like $CVNA $1.2B net debt $559M cash 723M shares They should be trading at $40 right now," he wrote.
-- With inputs from Bloomberg
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
19 minutes ago
- Time of India
Jain Irrigation net profit declines 8.5% to Rs 11.19 crore in Jun quarter
Jain Irrigation Systems on Saturday reported an 8.5 per cent fall in consolidated net profit to Rs 11.19 crore for the latest quarter ended June 2025. Its net profit stood at Rs 12.23 crore in the year-ago period. Explore courses from Top Institutes in Please select course: Select a Course Category Design Thinking Digital Marketing Project Management CXO Healthcare Degree Artificial Intelligence Leadership Finance PGDM Management Technology MCA others MBA healthcare Data Analytics Operations Management Cybersecurity Data Science Product Management Data Science Others Public Policy Skills you'll gain: Duration: 25 Weeks IIM Kozhikode CERT-IIMK PCP DTIM Async India Starts on undefined Get Details Skills you'll gain: Duration: 22 Weeks IIM Indore CERT-IIMI DTAI Async India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like War Thunder - Register now for free and play against over 75 Million real Players War Thunder Play Now Undo The total income rose to Rs 1,547.68 crore in the April-June period of 2025-26 from Rs 1,479.24 crore in the corresponding period of the preceding year, according to a regulatory filing. Jain Irrigation Systems Vice Chairman and Managing Director Anil Jain said, "In Q1 of FY26, the company experienced good demand for Micro Irrigation Systems, Tissue Culture, Exports and Solar Agri Pumps. We saw good growth in revenue and margins in Hi-Tech Agri division". Due to the early monsoon in May, he said the company saw an impact on demand for pipe. Live Events "Margins for pipe business were also under pressure due to lack of demand," Jain said. He said the company's focus towards retail and exports has shown better results in terms of revenue growth and margins. "With well-spread monsoon and the government's commitment to investment in infrastructure, we expect revival of demand for piping business in H2FY26," Jain said. In 2024-25, the Maharashtra-based Jain Irrigation Systems had posted a net profit of Rs 25.69 crore on a total income of Rs 5,793.24 crore. The company is engaged in the manufacturing of micro irrigation systems, PVC P pipes, HDPE pipes, plastic sheets, agro-processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs. PTI
News18
an hour ago
- News18
Jain Irrigation net profit declines 8.5 pc to Rs 11.19 cr in Jun qtr
Last Updated: New Delhi, Jul 26 (PTI) Jain Irrigation Systems on Saturday reported an 8.5 per cent fall in consolidated net profit to Rs 11.19 crore for the latest quarter ended June 2025. Its net profit stood at Rs 12.23 crore in the year-ago period. The total income rose to Rs 1,547.68 crore in the April-June period of 2025-26 from Rs 1,479.24 crore in the corresponding period of the preceding year, according to a regulatory filing. Jain Irrigation Systems Vice Chairman and Managing Director Anil Jain said, 'In Q1 of FY26, the company experienced good demand for Micro Irrigation Systems, Tissue Culture, Exports and Solar Agri Pumps. We saw good growth in revenue and margins in Hi-Tech Agri division". Due to the early monsoon in May, he said the company saw an impact on demand for pipe. 'Margins for pipe business were also under pressure due to lack of demand," Jain said. He said the company's focus towards retail and exports has shown better results in terms of revenue growth and margins. 'With well-spread monsoon and the government's commitment to investment in infrastructure, we expect revival of demand for piping business in H2FY26," Jain said. In 2024-25, the Maharashtra-based Jain Irrigation Systems had posted a net profit of Rs 25.69 crore on a total income of Rs 5,793.24 crore. The company is engaged in the manufacturing of micro irrigation systems, PVC P pipes, HDPE pipes, plastic sheets, agro-processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs. PTI MJH BAL BAL view comments First Published: July 26, 2025, 15:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
an hour ago
- Time of India
South Delhi plot resold for Rs 18 crore profit in six months
Akhil Wable , founder of DataforIndia , has acquired a 1,280-square yard plot in Vasant Vihar for Rs 113 crore from Eleannt Enterprises. The South Delhi-based real estate firm had purchased the plot for Rs 95 crore in January this year and paid Rs 6.65 crore in stamp duty. Explore courses from Top Institutes in Please select course: Select a Course Category Degree CXO Project Management Product Management PGDM Cybersecurity Data Science healthcare MCA MBA Management Artificial Intelligence Operations Management Others Leadership Data Analytics Digital Marketing others Design Thinking Public Policy Finance Technology Data Science Healthcare Skills you'll gain: Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Duration: 2 Years University of Western Australia UWA Global MBA Starts on Jun 28, 2024 Get Details Sources said the local authority is not granting permission to construct on the plot due to its proximity to the ridge area. ET had reported in May that Eleannt Enterprises had bought the plot in one of the costliest land deals in South Delhi. 'South Delhi has shown a considerable appetite for real estate. The fact that only a limited inventory comes into the market, especially from owners looking to monetise their assets, means they find both investors and end-users willing to pay a premium. This has led to unprecedented price appreciation. For example, transactions in Vasant Vihar currently are happening at around Rs 9–12 lakh per sq. yd,' said Ankur Jalan, CEO of Golden Growth Fund, a Category-II real estate-focused Alternative Investment Fund (AIF). Recently, Golden Growth Fund (GGF) acquired a land parcel in Neeti Bagh in South Delhi. The real estate potential of South Delhi, one of India's most upscale regions, is estimated at Rs 5.65 lakh crore. Around 18,446 plots are available across the 42 Category A, B, and C colonies in South Delhi, with sizes ranging from 125 square yards to 1,750 square yards. The average price ranges between Rs 6–15 lakh per square yard, data showed. The Municipal Corporation of Delhi (MCD) has classified all colonies in Delhi into eight categories—A, B, C, D, E, F, G, and H. Circle rates, property tax rates, and stamp duty charges for property registration are determined based on these categories. The most lucrative colonies, those under Categories A and B, are mostly located in South Delhi. Around 3,704 plots are available in the 13 Category A colonies, with sizes ranging from 200 sq. yd to 1,200 sq. yd. Approximately 12,720 plots are available in the 27 Category B colonies, with sizes ranging from 125 sq. yd to 1,750 sq. yd, according to the data. Category A and B colonies include Mayfair Garden, Panchsheel Park (N, S, and E Blocks), Sadhna Enclave, Anand Niketan, Vasant Vihar, Shanti Niketan, Westend, Chanakyapuri, Golf Links, Jor Bagh, Sundar Nagar, Maharani Bagh, Chirag Enclave, Greater Kailash, Green Park, Gulmohar Park, and Niti Bagh, among others.
