What's Going On With Opendoor Technologies Stock Thursday?

Shares of Opendoor Technologies Inc (NASDAQ:OPEN) are trading slightly lower Tuesday morning despite a lack of fresh catalysts, as investors digest the company’s recent volatility. Here’s what investors need to know.

What To Know: The stock’s recent climb was partly fueled by the full settlement of a derivatives lawsuit, but it remains a battleground for investors with sharply conflicting views on its future.

The bearish case is highlighted by hedge fund manager George Noble, who has criticized the company’s “atrocious unit economics.” Conversely, EMJ Capital’s Eric Jackson presents a bullish outlook, comparing Opendoor’s potential to Tesla and suggesting it could eventually capture 10% of the U.S. housing market by providing liquidity.

Jackson’s optimistic thesis depends heavily on future interest rate cuts from the Federal Reserve, as he believes current mortgage rates are unsustainable. Thursday’s minor dip suggests a holding pattern as the market weighs the opposing long-term narratives against the challenging macroeconomic environment for the housing sector.

Benzinga Edge Rankings: Underscoring this conflicting narrative, Benzinga Edge data shows the stock boasts an exceptional Momentum score of 99.01 but a very low Growth score of just 10.19.

OPEN Price Action: Opendoor shares were down 2.10% at $7.22 at the time of publication on Thursday, according to data from Benzinga Pro. The stock is trading within its 52-week range of 50 cents to $10.87, reflecting significant volatility over the past year.

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How To Buy OPEN Stock

By now you’re likely curious about how to participate in the market for Opendoor Technologies – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

If you’re looking to bet against a company, the process is more complex. You’ll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

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