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Cramer Calls Opendoor a Meme Stock as Company Taps Interim CFO

Shares rose roughly 700% in six months, reflecting intense retail interest.

Overview

  • Jim Cramer told a caller, "We don't want to be in a meme stock," referring to Opendoor.
  • He reiterated an August warning that he would not "jump on" the stock, voicing skepticism after prior leadership departures.
  • Opendoor named Christy Schwartz interim CFO effective Sept. 30, succeeding Selim Freiha, who leaves the role Friday.
  • The stock fell about 4% to $9.54 on light volume Friday, though it has surged roughly 700% over six months.
  • Retail promoters known as the OPEN Army traded Super Bowl ad ideas featuring Drake and Rob Gronkowski, underscoring a social-media-driven following.