Pharma Bro Martin Shkreli Confirms Shorting Opendoor, Plans Public Due Diligence Campaign Into The Firm: 'I Shorted $OPEN'

Core Viewpoint - Martin Shkreli has taken a short position against Opendoor Technologies Inc., indicating a bearish outlook on the company and plans to conduct public due diligence [1][2][3]. Group 1: Shkreli's Actions and Intentions - Shkreli shorted Opendoor's stock at $9.36, marking his first trade in the company [2]. - He plans to conduct diligence calls with former employees, customers, competitors, and management to build a public case against Opendoor [3]. - Shkreli has labeled Opendoor as "an obvious short" and has warned investors against holding long positions in the stock [4]. Group 2: Market Context and Reactions - Shkreli's bearish stance follows a significant rise in Opendoor's stock, which gained over 1,000% from its 52-week lows, earning it the "meme stock" label [5]. - The stock fell 6.06% to $8.92 on Tuesday but has advanced 461.01% year-to-date and 277.97% over the year [7]. - Other short-sellers, including Andrew Left of Citron Research, have also expressed skepticism about Opendoor, calling it "a science project in how to burn money" [5].