'Pharma bro' Martin Shkreli is betting against retail traders' favorite meme stock

Martin Shkreli has returned.

First rising to fame as the “pharma bro” who jacked up the price of an AIDS drug by 5,000% overnight and was eventually convicted of securities fraud, Shkreli is in the spotlight this week for taking aim at a stock beloved by retail traders in 2025.

Opendoor has been one of the most popular stocks of the summer, trending sharply upward since hedge fund founder Eric Jackson shared his bullish thesis in July.

The momentum sparked by Jackson’s call for the stock to rally to $82 a share and near-constant attention from retail traders has pushed Opendoor stock by about 1,500% since Jackson’s post, but Skhreli thinks the momentum is doomed to fade.

Earlier that day, Shkreli posted that he was looking to speak with former Opendoor employees, vendors, and customers and would be willing to pay them for their time. After announcing the short position, he shared that he had spoken with 20 experts about the company.

On September 8, Shkreli described Opendoor as an obvious short play.

Jackson, for his part, isn’t moved by Shkreli’s position.

“I would say my comment is that he’s not worth my time to comment,” Jackson told Business Insider when asked if he had an opinion on Shkreli’s short bet.

Retail investors online are more bombastic.

One Reddit user discussed the need for a new Keith Gill, the social media influencer who kicked off the GameStop short squeeze of 2021, to combat Shkreli’s influence. Some market pros have drawn parallels between the two companies.

“So we buy OPEN and show him!” another user said, evoking the “diamond hands” mentality of retail investors with a strong loyalty to a stock.

“Probably the best time to pump the stock to teach him a lesson,” added another user.

Their enduring enthusiasm might be working to keep the stock afloat. After dipping in pre-market trading, the stock was up as much as 20% in Wednesday’s session.