Opendoor 'Not A Meme Stock'? But It's Been Trading Like A TikTok Trend

Core Viewpoint - Opendoor Technologies, Inc. is experiencing significant stock volatility, with a recent surge of over 50%, but the new chairman Keith Rabois asserts that it is not a meme stock driven by sentiment [1][2]. Group 1: Company Positioning - Rabois emphasizes that Opendoor's recent stock performance is not merely sentiment-driven, but reflects a genuine demand for investment in the company due to its unique role in transforming real estate transactions [2][3]. - The chairman believes that the market is effectively allocating capital, as retail investors are expressing their desire for more investment in Opendoor, which he views as a positive societal trend [3][4]. Group 2: Investor Sentiment - Rabois supports the involvement of individual investors, arguing that they can recognize the fundamentals and long-term potential of Opendoor, which will be crucial for the company's future success [4]. - Other notable figures, including Eric Jackson and Anthony Pompliano, also reject the notion of Opendoor being a meme stock, framing the stock's narrative as misunderstood and highlighting its potential rather than sentiment as the main driver [5]. Group 3: Stock Performance - As of the latest publication, Opendoor Technologies shares increased by 3.66% to $9.40, nearing its 52-week high of $10.70 [6].