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Opendoor stock continues rally amid social media fueled frenzy, Eric Jackson says ‘it's worth $40 now'
Opendoor stock continues rally amid social media fueled frenzy, Eric Jackson says ‘it's worth $40 now'

Mint

time21-07-2025

  • Business
  • Mint

Opendoor stock continues rally amid social media fueled frenzy, Eric Jackson says ‘it's worth $40 now'

Opendoor Technologies Inc. stock continued its rally on Monday amid the social-media-fueled frenzy about the online platform for buying and selling US real estate. 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

Citizens JMP Downgrades Opendoor Technologies Inc. (OPEN) from ‘Market Outperform' to ‘Market Perform'
Citizens JMP Downgrades Opendoor Technologies Inc. (OPEN) from ‘Market Outperform' to ‘Market Perform'

Yahoo

time09-07-2025

  • Business
  • Yahoo

Citizens JMP Downgrades Opendoor Technologies Inc. (OPEN) from ‘Market Outperform' to ‘Market Perform'

Opendoor Technologies Inc. (NASDAQ:) is one of the . An aerial view of multiple modern high-rise commercial buildings, representing the company's wide-ranging real estate portfolio. The company's business model has moved away from its core iBuying model (where it directly buys and sells homes) to a more limited role as an agent-driven 'backstop.' Citing this shift in the business model, Citizens JMP lowered its rating on OPEN from 'Market Outperform' to 'Market Perform' on June 28, 2025. The analyst sees a potential upside for the company's shares given that the new model works in their favor. However, concerns regarding Opendoor Technologies Inc.'s (NASDAQ:OPEN) high 3.92x debt-to-equity ratio remain. Opendoor Technologies Inc. (NASDAQ:OPEN) leverages its platform to facilitate residential real estate transactions in the U.S., offering services including direct home sales, listings, title and escrow, and insurance. It is one of the best stocks to buy. While we acknowledge the potential of OPEN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: 7 Best Future Food Stocks to Buy According to Analysts and 10 Best Marketing Stocks to Buy Right Now. Disclosure: None. 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

Opendoor Announces Closing of Convertible Notes Exchange and New Convertible Notes Issuance
Opendoor Announces Closing of Convertible Notes Exchange and New Convertible Notes Issuance

Yahoo

time19-05-2025

  • Business
  • Yahoo

Opendoor Announces Closing of Convertible Notes Exchange and New Convertible Notes Issuance

SAN FRANCISCO, May 19, 2025 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (Nasdaq: OPEN) (the 'Company'), a leading e-commerce platform for residential real estate transactions, today announced the completion of its negotiated exchange and subscription agreements (the 'Exchange and Subscription Agreements') with certain holders of the Company's 0.25% Convertible Senior Notes due 2026 (the '2026 Notes') and new investors, pursuant to which the Company issued $325.0 million aggregate principal amount of its 7.000% Convertible Senior Notes due 2030 (the '2030 Notes') consisting of (a) approximately $245.8 million principal amount of 2030 Notes issued in exchange for approximately $245.8 million principal amount of 2026 Notes (the 'Exchange Transactions'), and (b) approximately $79.2 million principal amount of 2030 Notes for cash (the 'Subscription Transactions' and, together with the Exchange Transactions, the 'Transactions'), in each case, pursuant to exemptions from registration under the Securities Act of 1933, as amended (the 'Securities Act'), and the rules and regulations thereunder. 'We are pleased to have achieved several key objectives for the Company and our stockholders through this transaction,' said Selim Freiha, CFO of Opendoor. 'We successfully exchanged the majority of our outstanding 2026 Notes for 2030 Notes and opportunistically added $75.3 million in cash to our balance sheet—reflecting strong support from our investors. These steps position us to stay focused on our mission to reinvent the U.S. residential real estate industry—making it simpler, more convenient, and more customer-centric.' The 2030 Notes are senior, unsecured obligations of the Company and accrue interest at a rate of 7.000% per annum. The Company expects that the gross proceeds from the Subscription Transactions will be approximately $75.3 million, excluding offering fees and transaction expenses, and intends to use the net proceeds for general corporate purposes. The 2030 Notes will mature on May 15, 2030, unless earlier converted, redeemed or repurchased. Before November 15, 2029, the 2030 Notes are convertible at the option of holders only upon satisfaction of certain conditions and during certain periods, and on such day and thereafter, at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. The Company will settle conversions by paying cash up to the aggregate principal amount of the 2030 Notes to be converted and paying or delivering, as applicable, cash, shares of its common stock or a combination of cash and shares of its common stock, at its election, in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the 2030 Notes being converted based on the applicable conversion rate. The 2030 Notes have an initial conversion rate of 637.1050 shares of common stock per $1,000 principal amount of 2030 Notes (which is subject to adjustment in certain circumstances). This is equivalent to an initial conversion price of approximately $1.57 per share. The initial conversion price represents a premium of approximately 80% over the last reported sale price of $0.872 per share of the Company's common stock on May 8, 2025. Holders of the 2030 Notes have the right to require the Company to repurchase for cash all or a portion of their 2030 Notes at 100% of their principal amount, plus any accrued and unpaid interest, upon the occurrence of a fundamental change (as defined in the indenture relating to the 2030 Notes). The Company is also required to increase the conversion rate for holders who convert their 2030 Notes in connection with certain fundamental changes or a redemption notice, as the case may be, prior to the maturity date. The 2030 Notes are redeemable, in whole or in part (subject to certain limitations), for cash at the Company's option at any time, and from time to time, on or after May 22, 2028, but only if the last reported sale price per share of the common stock exceeds 130% of the conversion price then in effect for a specified period of time. Unless the Company has previously called all outstanding 2030 Notes for redemption, holders of the 2030 Notes may require the Company to repurchase their 2030 Notes on May 15, 2028, at a cash repurchase price equal to the principal amount of the 2030 Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. J. Wood Capital Advisors LLC served as advisor to the Company in the Transactions. For additional information regarding the terms of the Transactions, please see the Company's Current Report on Form 8-K, filed with the Securities and Exchange Commission on May 19, 2025. About Opendoor Opendoor is a leading e-commerce platform for residential real estate transactions whose mission is to power life's progress, one move at a time. Since 2014, Opendoor has provided people across the U.S. with a simple and certain way to sell and buy a home. Opendoor is a team of problem solvers, innovators, and operators who are leading the future of real estate. Opendoor currently operates in markets nationwide. For more information, please visit Forward Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding future financial results including driving toward sustainable positive cash flow; the future health and status of the Company's financial condition; and its business strategy and mission. These forward-looking statements generally are identified by the words 'anticipate', 'believe', 'contemplate', 'continue', 'could', 'estimate', 'expect', 'forecast', 'future', 'guidance', 'intend', 'may', 'might', 'opportunity', 'outlook', 'plan', 'possible', 'potential', 'predict', 'project', 'should', 'strategy', 'strive', 'target', 'vision', 'will', or 'would', any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. The factors that could cause or contribute to actual future events to differ materially from the forward-looking statements in this press release include but are not limited to: risks associated with the Company's indebtedness and capital structure; the current and future health and stability of the economy, financial conditions and residential housing market, including any extended downturns or slowdowns; changes in general economic and financial conditions (including federal monetary policy, the imposition of tariffs and price or exchange controls, interest rates, inflation, actual or anticipated recession, home price fluctuations, and housing inventory), as well as the probability of such changes occurring, that impact demand for the Company's products and services, lower the Company's profitability or reduce its access to future financings; actual or anticipated fluctuations in the Company's financial condition and results of operations; the Company's ability to access sources of capital, including debt financing and securitization funding to finance its real estate inventories and other sources of capital to finance operations and growth. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption 'Risk Factors' in the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the 'SEC') on February 27, 2025, as updated by its periodic reports and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations. Contact Information Investors:investors@ Media:press@ 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

Is Opendoor Technologies Inc. (OPEN) a Stock That Should Double in 3 Years?
Is Opendoor Technologies Inc. (OPEN) a Stock That Should Double in 3 Years?

Yahoo

time01-05-2025

  • Business
  • Yahoo

Is Opendoor Technologies Inc. (OPEN) a Stock That Should Double in 3 Years?

We recently published a list of the 30 Stocks That Should Double in 3 Years. In this article, we are going to take a look at where Opendoor Technologies Inc. (NASDAQ:OPEN) stands against other stocks that should double in 3 years. On April 25, Kari Firestone, Aureus Asset Management executive chairman and co-founder, joined CNBC's 'Squawk Box' to discuss the latest market trends and express how this is a reasonable place for long-term investors to enter the market. Despite persistent concerns about a recession coming from tariffs, Firestone thinks that corporate earnings have generally exceeded expectations. The strong performance of major tech companies has been a key driver behind the market's recent gains, such as those in the MAG7. Elaborating on the significance of these tech giants, Firestone also underscored that the top 2 companies in the S&P 500, regardless of which they are, match the market value of the bottom 300 companies in the index. This concentration means that these leading firms are fundamental to the US economy's progress. The conversation then addressed the impact of proposed FDA budget cuts on innovation for biotech companies. Firestone agreed that such cuts could slow down the approval process for new products and drug manufacturing, and she advised against reducing the FDA's budget. However, she believes that the market has already priced in these risks. She compared the situation to previous market overreactions, such as the 32% drop during the early COVID-19 period, which was followed by a rapid recovery. Firestone also concluded that the market is now fairly valued. Some sectors offer attractive opportunities due to recent price declines. She assessed the overall market valuation in light of tariff uncertainties and the recent rebound from a 20% drop to a current decline of about 10.5%. She explained that the market's price-to-earnings multiple has decreased from 22.5x next year's earnings to 18.5x, assuming no severe recession. She's confident that the market is unlikely to end the year lower than current levels and recommends that long-term investors enter the market at this stage. Firestone believes that the market has partially priced in the impact of tariffs. She estimated that a 5% to 10% tariff is reflected in current prices. While a full-blown recession may not be entirely priced in, a slowdown likely is. We sifted through financial media reports and Reddit threads to compile a list of the top 30 stocks that should double in 3 years. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q4 2024. The hedge fund data was sourced from Insider Monkey's database which tracks the moves of over 1000 elite money managers. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A real estate broker presenting pieces of paper describing the details of a home sale. Number of Hedge Fund Holders: 20 Opendoor Technologies Inc. (NASDAQ:OPEN) operates a digital platform for residential real estate transactions in the US. It also provides real estate brokerage, title insurance & settlement, escrow services, property & casualty insurance, real estate licenses, and construction services. In 2024, despite macroeconomic headwinds, Opendoor purchased 30% more homes year-over-year. The contribution margin increased to 4.7%, which was an improvement from the negative 3.7% recorded in 2023. Recognizing the slower start to the 2025 spring selling season and persistent market depression, Opendoor Technologies Inc. (NASDAQ:OPEN) also began increasing spreads in January to better manage risk. Opendoor is actively enhancing the customer experience to drive higher conversion rates. This includes improvements to its pricing models. Notably, ~70% of the company's 2024 acquisitions originated from sellers who initially declined an offer but later accepted a refreshed one after re-engagement. For Q1 2025, the company anticipates revenue between $1 billion and $1.075 billion. Overall, OPEN ranks 29th on our list of the stocks that should double in 3 years. While we acknowledge the growth potential of OPEN as an investment, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than OPEN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.

Opendoor to Report First Quarter 2025 Financial Results on May 6th, 2025
Opendoor to Report First Quarter 2025 Financial Results on May 6th, 2025

Globe and Mail

time08-04-2025

  • Business
  • Globe and Mail

Opendoor to Report First Quarter 2025 Financial Results on May 6th, 2025

SAN FRANCISCO, April 08, 2025 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. ('Opendoor') (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today announced that it will report first quarter 2025 financial results for the period ended March 31, 2025 following the close of the market on Tuesday, May 6, 2025. On that day, management will host a conference call and webcast at 2:00 p.m. PT (5:00 p.m. ET) to discuss the company's business and financial results. What: Opendoor First Quarter 2025 Earnings Conference Call When: Tuesday, May 6, 2025 Time: 2:00 p.m. PT (5:00 p.m. ET) Live Webcast: A live webcast of the call can be accessed from the Events and Presentations page of the investor relations website, Replay: An archived webcast of the conference call will be available on Opendoor's investor relations website for one year following the live call at About Opendoor Opendoor is a leading e-commerce platform for residential real estate transactions whose mission is to power life's progress, one move at a time. Since 2014, Opendoor has provided people across the U.S. with a simple and certain way to sell and buy a home. Opendoor is a team of problem solvers, innovators, and operators who are leading the future of real estate. Opendoor currently operates in markets nationwide. For more information, please visit Contacts Investors: investors@

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