meme, Opendoor and stock market
Digest more
The ticker $OPEN has been heavily cited on WallStreetBets, the online forum behind the infamous GameStop mania in 2021.
Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation.
Opendoor Technologies rose 25% in premarket trading after a social media post by Carvana spotter Eric Jackson. Tesla rose slightly ahead of Wednesday's earnings.
Kohl’s stock more than doubled at its intraday peak Tuesday, then pulled back, a day after Opendoor shares did the same.
Despite the enthusiasm, Opendoor has significant financial troubles. The company's top line has plummeted from its height in 2022. The company's current annual run rate is well under a third of its 2022 sales. Opendoor has also never turned a profit and has significant negative cash flow.
Three of the market’s new meme stocks were making big moves again on Thursday, as the latest bout of retail-investing mania showed no sign of slowing down.
2don MSN
Investors breathe life into new batch of meme stocks as Kohl's and Opendoor Technologies surge
As the stock market pushes into record territory and bargains become harder to find, investors are once again turning to some of Wall Street's beaten down companies in hopes of a quick score. The latest so-called meme stocks are the department store Kohl’s,
Krispy Kreme (DNUT), Opendoor (OPEN), Rocket Mortgage (RKT) and Kohl’s (KSS) had become the meme stocks of the moment, along with a new moniker from traders — “DORK,” a reference to the first letters of their tickers.