Overview

• Shares touched $10.87 this week before closing at $10.21 on Wednesday, extending a roughly 467% year-to-date gain, while slipping about 4% on Friday in lighter trading.
• Kaz Nejatian, formerly Shopify’s COO, was appointed CEO as co-founders Keith Rabois and Eric Wu rejoined the board on Sept. 10.
• Management said it will extend Opendoor’s offering across the continental United States in the coming weeks.
• Coverage tied the latest rally to the Federal Reserve’s 25-basis-point rate cut, a tailwind for interest-rate-sensitive housing activity.
• Commentators flagged heavy retail momentum and “meme stock” dynamics even as reports underscore historically thin margins and a lack of positive trailing-12-month operating income.