22.07.2025 09:51

Opendoor Technologies (NASDAQ: OPEN) experienced a dramatic price surge, climbing 42% on Monday to close at $3.21. This momentum continued into Tuesday's pre-market trading, with an additional 11.21% increase, reaching $3.57.

This remarkable rally, fueled by a wave of retail investor enthusiasm, has propelled the stock over 200% in just one week. This represents a more than sixfold increase from its June lows, where it traded below $1. The surge follows a period of significant decline, underscoring the volatility of the stock.

A key catalyst behind this frenzy appears to be commentary from Eric Jackson, founder of EMJ Capital. Jackson, a prominent investor, foresees substantial long-term growth for Opendoor, highlighting successful cost-cutting initiatives and improving profit margins. He even ventured a bold price target of $82 per share. Further intensifying the upward pressure, active participation from retail investors on Reddit's WallStreetBets forum, reminiscent of the GameStop saga, contributed to a short squeeze as bearish investors scrambled to cover their positions.

Concurrently, online search interest in Opendoor has exploded, mirroring the stock's dramatic ascent. Google Trends data, accessed on July 22nd, revealed a peak search interest score of 100 for "buy OPEN stock" on July 21st—a stark contrast to the score of 24 recorded on June 22nd, representing a more than 300% increase. This heightened interest was particularly strong in California, New York, Texas, Florida, and New Jersey.

Opendoor, a technology-driven real estate company that purchases and resells homes, previously reached share prices exceeding $30 in early 2021 before a significant downturn that pushed its price below $1. In May 2025, the company faced potential delisting from the Nasdaq due to prolonged trading below the $1 threshold. This recent resurgence, driven by renewed retail investor interest, now positions OPEN shares on the cusp of the psychologically significant $5 mark.