Opendoor's Meme-Stock Surge Fails to Boost Trading Volume Rank to Top 500

On July 30, 2025, Opendoor (OPEN) closed with a 0.98% gain, trading with a daily volume of $260 million, a 46.06% decline from the prior day. The stock ranked 460th in trading activity across the broader market. Recent price movements have been driven by a surge in retail investor activity and strategic corporate actions following a prolonged period of underperformance.

The stock’s momentum intensified in mid-July after hedge fund manager Eric Jackson publicly endorsed Opendoor, citing cost-cutting measures and long-term potential. This triggered a meme stock-style rally, with short sellers covering positions as online forums amplified retail enthusiasm. Despite the surge, the company remains a cash-burning business with narrow margins, though recent operational improvements include a 21% reduction in adjusted net losses and a 22% sequential increase in home purchases during Q1 2025. Opendoor also proposed a reverse stock split in June to address Nasdaq delisting risks, buying time to stabilize its share price.

Analyst sentiment remains cautious, with a consensus “Hold” rating and divergent views among 10 covering analysts. While Q2 earnings guidance suggests continued improvement—projecting a 56% annual reduction in net loss per share—the stock currently trades at a premium to its $1.14 average price target. Retail activity has mirrored pandemic-era meme stock dynamics, with a 211,400% spike in Stocktwits message volume over the past month. Short interest remains elevated at 18.63%, indicating lingering bearish exposure.

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