Opendoor's Outlook Trimmed Sharply As Analyst Warns Of Widening Losses

Opendoor Technologies OPEN shares slipped on Wednesday as the home-flipping platform's weaker-than- expected guidance and shift to an agent-led sales model deepened concerns over mounting losses and strategic direction despite a return to profitability last quarter. Keefe, Bruyette & Woods analyst Ryan Tomasello downgraded the stock from Market Perform to Underperform on Tuesday, maintaining a $1 price forecast. Tomasello cut his rating on Opendoor following the company's weak second-quarter results and ste ...