OPEN Stock Eyes Ninth Day Of Gains: What’s Driving The Rally?

• Opendoor’s shares have risen 24% in the last eight sessions. 
• Pending home sales in the U.S. climbed 1.5% in March, a sign of stable housing demand. 
• Opendoor will release its first-quarter earnings after the bell on May 7

Shares of Opendoor Technologies (OPEN) are extending their longest winning streak of the year, climbing for a ninth straight session in premarket trading on Wednesday. The rally, which has pushed the stock up more than 24% over the past week has been driven by multiple factors at play.

March Pending Home Sales Data

A key catalyst for OPEN’s recent performance appears to be the stronger than expected reading in U.S. housing activity. 

On Tuesday, the Pending home sales in March was released and it showed an increase of 1.5% from the prior month. National Association of Realtors’ Chief Economist Lawrence Yun said, “Contract signings rose in March despite higher mortgage rates, pointing to pent-up housing demand. A greater supply of inventory will help translate that demand into more home sales.”

As per the data, Month-over-month pending home sales grew in the Northeast and South but declined in Midwest and West region. 

All Eyes On the Upcoming Quarterly Results

Investors are also positioning themselves ahead of OPEN’s earnings report due in May. 

Last week, Opendoor said it would announce its first quarter numbers on May 7, 2026. The company said it would hold a video ‘Financial Open House’ for Q&A instead of a standard earnings call.

Earlier this month, in a Schedule 13G/A filing, the company disclosed that Morgan Stanley and Morgan Stanley Investment Management owned about 10.2% stake as of March 31.

Based out of Tempe, Arizona, Opendoor Technologies operates a digital platform for residential real estate transactions in the U.S.. It carries out deals for homes on its e-commerce platforms and also acts as a reseller for home buyers. Additionally, it offers real estate brokerage and related services.

OPEN Stock: How Did Retail Traders React?

On Stocktwits, the retail sentiment surrounding the stock has improved from ‘bullish’ to ‘extremely bullish’ and the message volumes also turned a notch higher from ‘high’ to ‘extremely high’

The retail chatter on the stock shot up to 267% in the past 24 hours.

One user on Stocktwits estimated the market size of Opendoor in the U.S. housing market.

Shares of Opendoor Technologies declined more than 10% so far this year.

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