One of the worst-hit industries last year was real estate. With skyrocketing interest rates, fewer people could afford to buy a home. Naturally, all sorts of companies that sell products related to home buying have been negatively affected, some to the extreme. Opendoor Technologies (OPEN 4.65%) is in that boat. It's down 91% from its highs and trades at a dirt cheap valuation. But not all cheap stocks are bargains. Should you buy Opendoor stock right now?Why Opendoor is down in the dumpsOpendoor is an iBuy ...

Opendoor Technologies Inc. (OPEN) closed the most recent trading day at $3.68, moving -0.54% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.57%. At the same time, the Dow added 0.46%, and the tech-heavy Nasdaq gained 0.75%.Heading into today, shares of the company had gained 7.56% over the past month, outpacing the Business Services sector's gain of 2.21% and the S&P 500's gain of 3.4% in that time.Investors will be eagerly watching for the performance of O ...

SAN FRANCISCO, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. ("Opendoor") (NASDAQ:OPEN), a leading e-commerce platform for residential real estate transactions, today announced that it will report fourth quarter 2023 financial results for the period ended December 31, 2023 following the close of the market on Thursday, February 15, 2024. On that day, management will host a conference call and webcast at 2:00 p.m. PT (5:00 p.m. ET) to discuss the company's business and financial results. What: ...

Summary of Opendoor Technologies Inc. Conference Call Company Overview - **Company**: Opendoor Technologies Inc. (NASDAQ: OPEN) - **Event**: UBS Global Technology Conference - **Date**: November 28, 2023 - **Participants**: Carrie Wheeler (CEO), Stephen Ju (UBS) Key Points Industry Context - The real estate market is currently facing challenges due to high mortgage rates and buyer affordability issues, leading to seller inertia as many homeowners are locked into low mortgage rates [20][21] - The ongoing lawsuits regarding buyer commissions may lead to changes in the real estate commission structure, which could impact the industry dynamics [2] Business Model Insights - Opendoor's business model does not rely on buyer commission revenue; instead, it incurs costs from paying buyer agents approximately 2.5% in commissions when reselling homes [2] - The company aims for unit margins of 5% to 7% annually, and the potential unbundling of buyer commissions could be neutral or slightly beneficial for Opendoor [2][3] Transaction Platform - Opendoor has developed a platform that allows direct transactions between buyers and sellers, emphasizing transparency and customer choice [3] - The company has seen a 76% increase in contracts through partnership channels since Q1 2023, indicating successful expansion efforts [13] Partnership Channels - Opendoor has partnerships with around 90 homebuilders, thousands of agents, and online platforms like Zillow, Realtor, and Redfin, enhancing its market reach [9][12] - The partnerships allow for efficient customer acquisition and provide agents with cash offers to present to potential sellers [11] Market Dynamics - Despite low overall market volumes, Opendoor is capturing market share, with a focus on price stability rather than volume alone [23][25] - The company has improved its pricing accuracy and reduced spreads, leading to a 17% increase in acquisition volumes in Q3 2023 [22] Future Outlook - Opendoor aims to achieve $10 billion in revenue and return to adjusted net income breakeven, with plans to double acquisition volumes from current levels [39][40] - The company is focused on expanding its market footprint and improving unit economics through better pricing algorithms and operational efficiencies [32][46] Consumer Behavior - There is a noted shift in consumer behavior, with buyers becoming more discerning about the value of agent services, which Opendoor can leverage [7][42] - The company has a high Net Promoter Score of 80, indicating strong customer satisfaction [27] Strategic Goals - Opendoor's long-term aspiration is to be the first choice for home sellers in a $600 billion addressable market, focusing on brand awareness and customer retention [58] - The company plans to maintain tight cost controls while scaling operations to realize operating leverage [59] Conclusion - Opendoor is well-positioned to navigate the current housing market challenges and capitalize on emerging opportunities through strategic partnerships, improved pricing strategies, and a focus on customer satisfaction [57][60]

Opendoor Technologies Inc. (NASDAQ:OPEN) Q3 2023 Earnings Call Transcript November 2, 2023 5:00 PM ET Company Participants Kimberly Niehaus - Investor Relations Officer Carrie Wheeler - Chief Executive Officer Christy Schwartz - Interim Chief Financial Officer Dod Fraser - President of Capital and Open Exchange Conference Call Participants Nick Jones - JMP Securities Ygal Arounian - Citigroup Curtis Nagle - Bank of America Dae Lee - JPMorgan Ryan Tomasello - KBW Chad Larkin - Oppenheimer & Company Operator ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________. Commission file number 001-39253 Opendoor Technologies Inc. (Exact name of registrant as specified in its c ...

Opendoor Technologies Inc. (NASDAQ:OPEN) Goldman Sachs 2023 Communacopia & Technology Conference September 7, 2023 7:25 PM ET Company Participants Carrie Wheeler - CEO Conference Call Participants Michael Ng - Goldman Sachs Michael Ng Welcome to the Opendoor presentation at the Goldman Sachs Communacopia and Technology Conference. I have the privilege of introducing Carrie Wheeler, CEO of Opendoor Technologies. She served as CFO for Opendoor for two years before being appointed as CEO in December of 2022. ...

Opendoor Technologies Inc. (NASDAQ:OPEN) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET Company Participants Whitney Kukulka - IR Carrie Wheeler - CEO Christina Schwartz - Interim CFO Dod Fraser - President, Open Exchange Conference Call Participants Dae Lee - JPMorgan Chad Larkin - Oppenheimer Ygal Arounian - Citi Group Nick Jones - JMP Securities Ryan Tomasello - KBW Curtis Nagle - Bank of America Ryan McKeveny - Zelman and Associates Operator Good day, and thank you for standing by. Welcome ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________. Commission file number 001-39253 Opendoor Technologies Inc. (Exact name of registrant as specified in its charte ...

Opendoor Technologies, Inc. (NASDAQ:OPEN) Q1 2023 Earnings Conference Call May 4, 2023 5:00 PM ET Company Participants Elise Wang - VP & Head, IR Carrie Wheeler - CEO & Director Christina Schwartz - Interim CFO & CAO Dod Fraser - President, Open Exchange & Capital Conference Call Participants Nicholas Jones - JMP Securities Dae Lee - JPMorgan Chase & Co Ryan Tomasello - KBW Jay McCanless - Wedbush Securities Operator Good day, and thank you for standing by. Welcome to the Opendoor Technologies First Quarter ...