Why Opendoor Technologies Stock Popped Today

Interest rates are coming down soon. That's good news for Opendoor. Shares of Opendoor Technologies (OPEN 13.61%) were among the winners today after Fed Chair Jerome Powell gave dovish remarks about interest rates at a closely watched speech in Jackson Hole, Wyoming. Real estate stock investors have been anticipating news that the Federal Reserve would lower rates soon, and Powell's embrace of rate cuts sent Opendoor and its real estate tech peers soaring today. As of 1:02 p.m. ET, shares of the online real ...