After a 54% Decline, What’s Ahead for Opendoor Stock?
May 09 2022 - 06:58AM
TipRanks
Macroeconomic headwinds, including rising mortgage rates and
concerns around the affordability of homes, remain a drag on
internet-based real estate marketplaces, including Opendoor
Technologies (NASDAQ:OPEN). Due to the macro headwinds, OPEN stock
has declined about 54% so far in 2022. Further, it is down about
65% over the past year. Now What? OPEN stock has corrected
significantly. However, it continues to deliver impressive
financial numbers. The company recently delivered exceptional Q1
results, while management remains confident that growth will likely
sustain throughout the year. For context, Opendoor’s Q1 top
line surged 590% year-over-year, driven by an increase in the
number of homes sold.
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Opendoor Technologies (NASDAQ:OPEN)
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Opendoor Technologies (NASDAQ:OPEN)
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From Aug 2021 to Aug 2022