Overview
- Shares rose 9.6% Friday to close at $6.75 as markets priced higher odds of a December rate cut following remarks by New York Fed President John Williams.
- A regulatory filing showed DE Shaw held a 6.4% stake as of Nov. 13, which coincided with heightened interest in the rate‑sensitive iBuyer.
- Most of the position is in DE Shaw Valence Portfolios, a statistical‑arbitrage vehicle that suggests timing‑driven positioning rather than lasting conviction.
- The move followed Opendoor’s special warrant dividend around Nov. 21, granting one each of Series K, A, and Z warrants per 30 shares with exercise prices of $9, $13, and $17 after a Nov. 18 record date.
- Analyst sentiment remains cautious with a consensus Hold and an average price target near $4.35, while a similar pop followed Jane Street’s roughly 5.9% disclosure in late September.