Why Opendoor Stock Was Soaring Today [Yahoo! Finance]
Opendoor Technologies Inc (OPEN)
Company Research
Source: Yahoo! Finance
improving earnings before, interest, taxes, depreciation, and amortization ( EBITDA ) loss in the second quarter. As of 1:53 p.m. ET, the stock was up 11.6%. Investors roll out the welcome mat for Opendoor Opendoor has struggled with the challenging real estate market, and the stock is down sharply from its initial public offering (IPO) price in 2021, but last night's update seemed to give enough of a hint of a recovery. Revenue fell 62% in the quarter to $1.19 billion as the company has scaled back on homebuying in line with the soft real estate market. That figure beat estimates at $1.09 billion, but revenue is mostly irrelevant for a company like Opendoor -- it's a reflection of activity more than profitable business as it can easily lose money on that revenue. Gross profit was down from $170 million to $114 million, though the company has started ramping up home purchases again, which reached 3,458 homes, up 98% from the quarter a year ago. On the bottom line, the comp
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News
- Wages are keeping up with rent in only these 6 large US cities [Yahoo! Finance]Yahoo! Finance
- Khosla Ventures, Pear VC triple down on Honey Homes, a smart way to hire a handyman [TechCrunch]TechCrunch
- Unmarried millennials are twice as likely as boomers to buy homes solo—and 10 times as likely to buy with a friend [Yahoo! Finance]Yahoo! Finance
- Unmarried millennials are twice as likely as boomers to buy homes solo—and 10 times as likely to buy with a friend [Fortune]Fortune
- 4 Home Features Buyers Are Paying Top Dollar for This Spring [Yahoo! Finance]Yahoo! Finance
OPEN
Earnings
- 5/2/24 - Beat
OPEN
Sec Filings
- 5/10/24 - Form 4
- 5/8/24 - Form 4
- 5/6/24 - Form SC
- OPEN's page on the SEC website