Down 90% From Its High, Is There Still Hope for Opendoor Stock?
Opendoor Technologies (NASDAQ: OPEN), the leading instant buyer of homes in America, went public on Dec. 21, 2020, by merging with a special purpose acquisition company (SPAC). Its stock opened at $31.47 on its first day, and it eventually closed at a record high of $35.88 on Feb. 11, 2021.But today, the stock trades at about $2.50 a share. It plummeted more than 90% as rising interest rates and other macro headwinds chilled the housing market. Let's see if this out-of-favor real estate stock might bounce back as interest rates decline.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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