OPEN Stock Summary and Trading Ideas (Opendoor Technologies | NASDAQ:OPEN)

Opendoor Technologies Inc is a digital platform for residential real estate. This platform enables customers to buy and sell houses online. It generates revenue through home sales, along with other revenue from real estate services.

Opendoor Technologies trades on the NASDAQ stock market under the symbol OPEN.

As of October 4, 2024, OPEN stock price climbed to $1.99 with 31,556,774 million shares trading.

OPEN has a beta of 3.04, meaning it tends to be more sensitive to market movements. OPEN has a correlation of 0.24 to the broad based SPY ETF.

OPEN has a market cap of $1.40 billion. This is considered a Small Cap stock.

Last quarter Opendoor Technologies reported $2 billion in Revenue and -$.04 earnings per share. This beat revenue expectation by $41 million and exceeded earnings estimates by $.06.

In the last 3 years, OPEN traded as high as $25.33 and as low as $.92.

The top ETF exchange traded funds that OPEN belongs to (by Net Assets): VNQ, VTI, VB, IWM, AVUV.

OPEN has underperformed the market in the last year with a price return of -25.7% while the SPY ETF gained +36.6%. However, in the short term, OPEN had mixed performance relative to the market. It has outperformed in the last 3 months, returning +10.6% vs +4.2% return in SPY. But in the last 2 weeks, OPEN shares have been beat by the market, returning -4.3% compared to an SPY return of +0.8%.

OPEN support price is $1.82 and resistance is $2.04 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that OPEN shares will trade within this expected range on the day.