Opendoor's $1.51B Surge to 41st Rank Fueled by CEO Exit and Retail Meme Frenzy

On August 18, 2025, Opendoor (NASDAQ:OPEN) saw a trading volume of $1.51 billion, ranking 41st in the stock market. The stock closed up 19.24%, extending its recent rally driven by leadership changes and retail investor enthusiasm.

The surge followed the announcement that CEO Carrie Wheeler stepped down immediately, with Shrisha Radhakrishna, Chief Technology & Product Officer, appointed as interim leader. Investors interpreted the leadership transition as a potential strategic pivot, fueling optimism. The stock has become a focal point for speculative trading, partly due to its 23% short interest, which has amplified social media-driven momentum. While the share price temporarily surged beyond 21% during the session, it settled at $3.78 by close, reflecting the market’s mixed reaction to the news.

Opendoor’s volatility remains pronounced, with over 87 intraday moves exceeding 5% in the past year. The recent 19.24% gain underscores heightened retail participation, a trend that has turned the stock into a meme-driven asset. Despite historical challenges, the platform’s shares have risen 140% year-to-date, marking a 52-week high at $3.82.

A backtested strategy of buying the top 500 stocks by daily trading volume and holding for one day yielded a total profit of $2,340 between 2022 and the present. This approach generated a cumulative return of 23.4%, indicating moderate success but suggesting caution for volume-based trading strategies.