OPEN · Opendoor
Opendoor 2025: a sub-$1 stock, a meme-stock rally and a new CEO
2025 · +279% in the calendar year
For scale: buying every US stock breakout from 2018 to 2026 with no selection returned a median −22.6% a year later, measured on the 14,674 with a full twelve months of data. How it was measured
Opendoor buys and resells homes, and it lost money in every quarter of 2024. In June 2025 its shares fell to about 51 cents intraday, and the company had planned a reverse stock split to keep its Nasdaq listing. In July 2025 Eric Jackson of hedge fund EMJ Capital posted an argument on X comparing Opendoor with Carvana. A meme-stock rally followed: the shares reached $4.97 intraday that month, and on 28 July the company postponed the reverse split.
The business did not move with the price. Quarterly revenue fell from $1.57 billion in the three months to June 2025 to $915 million in the three months to September. In September 2025 Opendoor named Kaz Nejatian, Shopify's former chief operating officer, as chief executive, with co-founder Keith Rabois returning as chairman, and the stock rose nearly 80% in one session. It reached $10.87 intraday that month and finished +279% in calendar 2025. By August 2026 it traded below $3.50.
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Sources: CNBC, 18 Jul 2025 · The Real Deal, 28 Jul 2025 · CNBC, 11 Sep 2025 · StockAnalysis, OPEN. Price figures are split-adjusted, not dividend-adjusted.
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