Overview

• Opendoor shares climbed as much as 120% intraday on Monday before a volatility halt, ultimately finishing up about 30% for the day.
• Sustained retail buying since July 15 has been driven by hedge fund manager Eric Jackson’s high-profile ‘100-bagger’ thesis on social media.
• Call-option volumes exceeded one million contracts in a single session for the first time, intensifying a gamma squeeze that amplifies upward price pressure.
• Opendoor has closed above the $1 threshold for several consecutive sessions, satisfying Nasdaq’s minimum bid requirement and averting immediate delisting risk.
• Shareholders will vote on a proposed reverse stock split on July 28 to bolster share price and maintain the company’s Nasdaq listing.