Overview

• Opendoor shares have jumped more than 1,600% since July to a recent high of $10.28 after hedge fund manager Eric Jackson promoted the stock to retail traders.
• Jackson set an $82 price target and likened the opportunity to Carvana, but skeptics say such a level would imply revenue multiples typically reserved for profitable, high‑growth software firms.
• TAGStone Capital’s William Reid Culp III noted revenue fell from $15.6 billion in 2022 to $5.1 billion in 2024, with earnings still negative and consensus pointing to losses through 2026.
• Bustamante Capital’s Daniel Bustamante characterized the advance as momentum‑driven by retail activity, options dynamics, and the potential for short squeezes rather than an operational turnaround.
• Recent leadership moves include naming former Shopify executive Kaz Nejatian as CEO, bringing co‑founders Keith Rabois and Eric Wu back to the board, and granting stock awards tied to share‑price milestones up to $33, with Rabois signaling deep cost cuts.