Overview

• Shares rose 16.24% Wednesday after a federal report showed new single-family home sales at a 800,000 annual rate, up 20.5% month over month and 15.4% year over year.
• Opendoor traded higher after hours to about $9 as Jane Street disclosed a 5.9% passive stake, reporting ownership of roughly 44.0 million shares in a Schedule 13G filing.
• The median new-home sales price climbed to $413,500 in August, a backdrop that can support Opendoor’s resale margins and portfolio values.
• The rally followed a 12.43% drop Monday to $8.38 as funds rotated toward AI and precious metals, underscoring the stock’s sharp swings.
• Recent momentum has been fueled by heavy retail interest and leadership changes, including Kaz Nejatian as CEO and founders Eric Wu and Keith Rabois returning to the board, with the next earnings report expected Nov. 6.