Overview
- Shares have risen more than 1,000% from midyear lows below $0.60 to around $7.7, with trading flattening midweek after a sharp rally.
- Kaz Nejatian, appointed CEO in September after serving as Shopify’s COO, is targeting a roughly 10x scale-up with a goal of net profitability by end-2026.
- Management reports more than a dozen new AI tools and a near-doubling of homes Opendoor agreed to buy from mid-September through October.
- Q3 2025 results underscored the work ahead with 2,568 homes sold, an adjusted EBITDA margin of negative 3.6%, about $5.2 billion in revenue, roughly $962 million in cash, and over $1.6 billion in total debt.
- Traders cite a potential Fed pivot—markets put the probability of a Dec. 10 rate cut at 77%—which could lower floating-rate holding costs and help ease the housing market’s lock-in effect.