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 April 24, 2024, OPEN stock price declined to $2.15 with 9,796,874 million shares trading.

OPEN has a beta of 4.44, meaning it tends to be more sensitive to market movements. OPEN has a correlation of 0.32 to the broad based SPY ETF.

OPEN has a market cap of $1.46 billion. This is considered a Small Cap stock.

Last quarter Opendoor Technologies reported $870 million in Revenue and -$.14 earnings per share. This beat revenue expectation by $43 million and exceeded earnings estimates by $.04.

In the last 3 years, OPEN stock 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 outperformed the market in the last year with a return of +52.5%, while the SPY ETF gained +24.1%. However, in the most recent history, OPEN shares have underperformed the stock market with its stock returning -33.2% in the last 3 month period and -12.2% for the last 2 week period, while SPY has returned +4.5% and -1.7%, respectively.

OPEN support price is $2.12 and resistance is $2.34 (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 stock will trade within this expected range on the day.