Opendoor Stock Rises Pre-Market – Here’s An Important Update

Shares of Opendoor Technologies Inc. (OPEN), which operates a digital platform for residential real estate transactions, gained over 1% in Friday’s pre-market.

The stock drew investor attention following commentary from Opendoor CEO Kaz Nejatian and co-founder and board chair Keith Rabois. 

On Thursday, Nejatian stated that the company is on the verge of “shipping a relatively big change,” without providing details about the change.

“We are close to shipping a relatively big change. Users won’t notice this for a week or two. Super bullish. PR shipped at 12:57 am this morning.  Turning on feature flags soon,” Nejatian said in a post on X on Thursday.

Over the weekend, one user asked Rabois about the possibility of Opendoor reaching breakeven, or even earnings before interest, taxes, depreciation, and amortization (EBITDA) profitability by 2026.

“Yes, but won’t have an actual plan or forecast to share until earnings,” said Rabois in response.

Retail sentiment on Stocktwits around the company trended in the ‘bearish’ territory at the time of writing.

Meanwhile, Opendoor disclosed an insider transaction earlier on Tuesday, noting that the company’s co-founder and director, Eric Wu, purchased $2 million worth of shares at $6.65 apiece. Wu’s total holdings in Opendoor stood at 1.95 million shares after the transaction. In September, Jane Street acquired a 5.9% passive stake in Opendoor, representing over 44 million shares in the company.

OPEN stock is up 401% year-to-date and 322% in the past 12 months.

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