Why Opendoor Technologies Stock Slipped 12.5% In October
Opendoor(OPEN) The Motley Fool·2024-11-07 05:23The company is hurting from rising mortgage rates for residential real estate loans.Shares of Opendoor Technologies (OPEN -7.29%) slipped 12.5% in October, according to data from S&P Global Market Intelligence. The online home-buying platform trades in line with mortgage rates on residential real estate loans, which rose in October back to 7%. After going public with much fanfare in 2020, Opendoor's stock has tanked because of its declining revenue and lack of profitability. Here's why Opendoor's stock sank ...