Opendoor shares surge 4.28% on $1.39B volume ranks 51st as CEO exits CTO steps in

Opendoor (OPEN) surged 4.28% on August 15, 2025, with a trading volume of $1.39 billion, marking a 53.75% increase from the previous day and ranking 51st in market activity. The stock’s upward momentum coincided with leadership changes at the company, as CEO Carrie Wheeler stepped down immediately, appointing Shrisha Radhakrishna, the current Chief Technology & Product Officer, as President and interim leader. Wheeler, who led Opendoor through its SPAC listing and six years of operations, will transition to an advisory role until year-end. The board has initiated a CEO search, retaining Spencer Stuart, while Eric Feder of LenX was named Lead Independent Director to oversee the process.

Radhakrishna, with over 20 years of tech experience at LegalZoom and Intuit, has spearheaded cost reductions and product innovations such as Cash Plus, which the company claims enhances operational efficiency. His appointment signals a strategic pivot toward technology-driven growth, aligning with the board’s emphasis on scaling Key Connections and improving core cash-offer services. While the interim leadership structure may introduce short-term uncertainty, Radhakrishna’s track record in optimizing digital platforms could bolster investor confidence. The board expressed conviction in the company’s long-term value creation, citing its AI-focused data assets and market positioning.

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