Overview
- Shares rose 9.58% to $6.75 on Friday after the hedge fund reported a 6.4% holding in the home-selling platform.
- A public filing showed the position as of November 13, with most of the shares attributed to DE Shaw Valence Portfolios.
- Coverage highlighted Opendoor’s special warrant dividend requiring ownership on November 18—one Series K, A, and Z warrant per 30 shares with $9, $13, and $17 exercise prices—as a likely factor in timing.
- Remarks from New York Fed President John Williams pointing to room for a near-term rate cut lifted expectations for a December move and supported rate-sensitive names.
- Analysts keep a Hold consensus with an average $4.35 price target below current levels, even after a gain of more than 325% this year and a prior disclosure-driven rally when Jane Street revealed a 5.9% stake in September.