Opendoor stock eyes a fresh uptick as retail fans push rally; Pompliano buys in and Jackson weighs in
Opendoor Technologies’ shares climbed as much as 25% on Thursday, hitting about $3.03 per share, as the online home-trading platform extended a rally that has lifted the stock by roughly 84% year to date. The move follows a stronger run earlier in the summer and a broader uptick in a wave of meme-name stocks that has kept Opendoor in traders’ sights.
The latest leg of the rally comes as several factors converge. On August 12, well-known investor and tech entrepreneur Anthony Pompliano disclosed that he had purchased Opendoor shares, arguing that retail investors can be a powerful force to help a company grow, attract attention to a narrative, and unlock value. His comments helped renew enthusiasm around the stock among retail traders.
Earlier in July, hedge fund manager Eric Jackson helped spark the rebound by publishing a bullish thesis on Opendoor. In recent days, Jackson has taken a more activist stance, criticizing CEO Carrie Wheeler and signaling that he could join the board to push for strategic changes. The heightened attention from Jackson has reinvigorated discussions about Opendoor on social media, with Ape Wisdom data showing a 234% jump in mentions on Reddit’s investing forums in the last 24 hours.
What it means: The July surge, while it faded briefly, shows Opendoor remains a magnet for retail traders, and the fresh backing from Jackson adds a level of credibility to the rally for some investors. Jackson’s history of successful calls, such as his stance on Carvana (which has since surged from the $5 area to well over $300), is fueling ongoing chatter that the stock could continue to ride the momentum created by retail enthusiasm.
“I’m in this for the long run,” Jackson said in a recent interview, reiterating that his strategy isn’t about quick pumps but sustained involvement.
Summary: Opendoor’s latest move reflects a renewed wave of retail investor interest and commentary from influential backers, keeping the stock in the spotlight despite its volatility. The ongoing discussion around governance and strategy, driven by Jackson’s activist posture and Pompliano’s endorsement, may shape near-term sentiment as traders weigh potential long-term outcomes for the company.
What to watch next:
– Any new statements from Opendoor management regarding strategic plans or governance.
– How quarterly results and home-market conditions influence investor sentiment.
– How the activist dialogue affects board discussions or potential changes in leadership or strategy.
Positive takeaway: The renewed attention and investor engagement around Opendoor illustrate how retail participation can drive focus on growth narratives, potentially accelerating progress if the company executes on its plans. However, volatility remains a key factor, so investors should balance sentiment with fundamentals.