The Hedge Fund Manager Who Called Carvana's 100X Move Says This Stock Is the Next 100-Bagger

Core Viewpoint - Opendoor Technologies has seen its stock price more than triple recently, driven by a bullish investment thesis from hedge fund manager Eric Jackson, rather than by business performance [1][10] Group 1: Investment Thesis - Jackson believes Opendoor could be a candidate for significant growth, similar to his previous successful call on Carvana [2][4] - He argues that Opendoor's iBuying business could thrive when macroeconomic conditions improve, as major competitors like Zillow and Redfin have exited the iBuying market [5][11] - The company has executed over 200,000 real estate transactions, providing it with valuable data that could be leveraged to create advanced AI-powered price estimation tools [7][11] Group 2: Market Opportunities - Jackson identifies a potential opportunity in assumable mortgages, particularly government-backed loans, which could enhance Opendoor's platform [8][9] - The stock was trading at approximately $0.82 when Jackson made his 100x prediction, and it has since risen to $2.45, indicating a significant increase in investor interest [10] Group 3: Current Challenges - Despite the bullish outlook, Opendoor is currently not profitable and is facing a slowdown in business due to high interest rates and a sluggish real estate market [11][12] - The success of Jackson's thesis hinges on various factors aligning in Opendoor's favor, including effective management execution [11]