Latest news with #CarrieWheeler
Yahoo
5 hours ago
- Business
- Yahoo
Opendoor CEO Resigns After Investor Pressure; Stock Rallies
Opendoor (OPEN, Financials) CEO Carrie Wheeler resigned Friday following weeks of investor pressure, ending her three-year tenure at the online real estate company. Technology chief Shrisha Radhakrishna was appointed interim president as the board begins a CEO search. Warning! GuruFocus has detected 6 Warning Signs with OPEN. The announcement followed a wave of retail-driven interest; Opendoor's stock has jumped more than sixfold since bottoming at 51 cents in June a level that nearly triggered a Nasdaq delisting. Shares rose 4.3% Friday, bringing its market value to about $2.5 billion. Wheeler said on X that the intense outside interest had made it the right time to accelerate succession plans. Her exit was pushed by activist investor Eric Jackson, who touted the stock as a potential 100-bagger, and co-founder Keith Rabois, who said no original leaders supported her. The company's latest results showed declining home acquisitions just 1,200 expected in Q3 versus 1,757 in Q2 as Opendoor trims marketing spend. Rising mortgage rates have weighed heavily on its business model, which relies on buying and reselling homes for profit. Opendoor went public in 2020 via a SPAC; it lost 99% of its value from early 2021 to June 2025 before its recent rebound. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
5 hours ago
- Business
- Yahoo
Opendoor Technologies (OPEN) Stock Jumps as Social Buzz Fuels Rally
Aug 18 - Opendoor Technologies (NASDAQ:OPEN) jumped about 8% in late-morning trading Monday, extending a five-session rally fueled by social-media attention and retail buying. The online real-estate platform has risen roughly 32% over the last five trading days as influencers on X boosted the name and trading volume climbed. Market chatter followed a separate bout of meme-stock style activity last month and a corporate leadership shift: Carrie Wheeler resigned as chair and CEO and the board launched a search for her replacement. Warning! GuruFocus has detected 6 Warning Signs with OPEN. Retail enthusiasm overlaps with mixed fundamentals; analysts still view OPEN as a "hold", reflecting uncertainty around long-term execution. ProCap Acquisition Corp. (PCAP) CEO Anthony Pompliano and other public figures helped amplify interest, but that attention can cause short-term volatility rather than sustained operational improvement. Investors should watch volume, insider and institutional flows, and any strategic updates from the new leadership team. If management can pair improved governance with clearer growth metrics, excitement could translate into durable gains, but until then, momentum looks driven more by sentiment than fresh fundamentals. This article first appeared on GuruFocus.
Yahoo
6 hours ago
- Business
- Yahoo
Why Opendoor Technologies Stock Skyrocketed Today
Key Points Opendoor CEO Carrie Wheeler is stepping down. The CEO had become the target of activist investors after not doing enough to address the company's artificial intelligence (AI) potential. The company's statement announcing her departure and its search for a new CEO included language specific to an AI-powered pivot. 10 stocks we like better than Opendoor Technologies › Shares of Opendoor Technologies (NASDAQ: OPEN) jumped on Monday, up 18.8% as of market close, and had moved as much as 24.6% earlier in the day. The spike comes as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) were little changed. After a monster meme-stock rally in July, the real estate technology company's stock fell hard following its latest earnings. The rally is back on, however, after Opendoor announced its CEO would step down, a move greeted with enthusiasm from its retail investor base. Opendoor's CEO is out CEO Carrie Wheeler is stepping down after facing increasing pressure to do so from vocal activist investors and a wide swath of the company's retail investors, who have been driving the stock's success in recent months. EMJ Capital's Eric Jackson, the investor largely responsible for igniting the original meme rally, was very vocal about his displeasure with Wheeler's handling of the company. Opendoor's co-founder, Keith Rabois, echoed Jackson's calls and called Wheeler "utterly incompetent." The retail rally is centered around the idea that Opendoor could transform its business with AI, using its extensive proprietary data. In the company's announcement, AI was heavily featured, saying it was "well positioned to focus on its considerable data and unique assets in today's high-tech AI world." Opendoor is still a speculative play Opendoor operates in a very capital-intensive space, has negative free cash flow, significant debt, and is in the red. I am suspicious of its long-term value, especially if the housing market worsens, which is entirely possible. Should you buy stock in Opendoor Technologies right now? Before you buy stock in Opendoor Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Opendoor Technologies wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,155!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,106,071!* Now, it's worth noting Stock Advisor's total average return is 1,070% — a market-crushing outperformance compared to 184% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 18, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Opendoor Technologies Stock Skyrocketed Today was originally published by The Motley Fool
Yahoo
7 hours ago
- Business
- Yahoo
Why Opendoor (OPEN) Stock Is Up Today
What Happened? Shares of technology real estate company Opendoor (NASDAQ:OPEN) jumped 21.5% in the afternoon session after the company's leadership transition continued to fuel investor optimism. The move extends a rally from the previous week, which began after the company announced CEO Carrie Wheeler would step down. This leadership change has sparked investor optimism for a strategic turnaround. Shrisha Radhakrishna, the Chief Technical and Product Officer, has been appointed as the interim leader while the board searches for a permanent replacement. Adding to the momentum, Opendoor has been identified as a "meme stock," attracting traders partly due to its high short interest, estimated at around 23%. This interest, often amplified on social media, has contributed to the stock's significant recent gains as investors bet on the company's new direction under fresh leadership. After the initial pop the shares cooled down and closed the day at $3.78, up 19.1% from previous close. Is now the time to buy Opendoor? Access our full analysis report here, it's free. What Is The Market Telling Us Opendoor's shares are extremely volatile and have had 87 moves greater than 5% over the last year. But moves this big are rare even for Opendoor and indicate this news significantly impacted the market's perception of the business. The previous big move we wrote about was 3 days ago when the stock gained 11.1% on the news that the company announced the immediate resignation of Chief Executive Officer Carrie Wheeler. The real estate platform announced that Carrie Wheeler stepped down from her roles as CEO and chair, effective immediately. Shrisha Radhakrishna, previously the Chief Technology & Product Officer, has been appointed as the interim leader while the company's search for a new CEO, which began in mid-2025, is well underway. The leadership shake-up comes amid a period of high volatility and surging retail investor enthusiasm that has given the stock "meme-stock status," with shares tripling in the past month. Opendoor is up 140% since the beginning of the year, and at $3.82 per share, has set a new 52-week high. Investors who bought $1,000 worth of Opendoor's shares 5 years ago would now be looking at an investment worth $352.07. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Opendoor Technologies (OPEN) Announces Leadership Transition As CEO Carrie Wheeler Steps Down
Opendoor Technologies has experienced pivotal executive changes with the departure of CEO Carrie Wheeler, succeeded temporarily by technology leader Shrisha Radhakrishna, amidst a robust share price surge of 304% this past quarter. Contributing to this momentum are the company's efforts in launching new products like Cash Plus and the Key Agent App during a period when the broader market showed mixed performance with record highs in major indices like the Dow. Opendoor's strategic product advancements and investor enthusiasm appear to complement the overall market trends, despite not aligning with the slight declines in the S&P 500 and Nasdaq. Be aware that Opendoor Technologies is showing 2 risks in our investment analysis. AI is about to change healthcare. These 27 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. The recent executive changes at Opendoor Technologies, coupled with the significant share price surge this past quarter, could influence the company's strategic direction and execution. While the introduction of products like Cash Plus and the Key Agent App add potential for innovation-led growth, the revenue and earnings outlook remain cautious. The company's reliance on technological advancements may offer resilience amid high mortgage rates and affordability challenges, though analysts are bracing for persistent revenue pressures and ongoing unprofitability over the next three years. The interim leadership may navigate these waters with fresh insights, impacting future forecasts. Over the past year, Opendoor's total shareholder return, including dividends, was 77.09%, indicating solid performance despite broader market volatility. This also stands out when compared to the US Real Estate industry's 26.9% return over the same period, suggesting Opendoor outperformed in a challenging market environment. However, given the longer-term context, the share price is currently US$3.17, offering a stark contrast to the analyst consensus price target of US$1.14. This highlights a significant discount that could reflect differing expectations of future performance and market conditions. The recent price movement, powered by investor enthusiasm and product launches, suggests optimism. However, given the current share price exceeds the price target by a very large margin, investors might be pricing in greater optimism than analysts currently project. As the company focuses on revenue streams from innovative solutions, these efforts must translate into substantial profitability improvements to meet or exceed market expectations in the long run. Our comprehensive valuation report raises the possibility that Opendoor Technologies is priced higher than what may be justified by its financials. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include OPEN. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
