Why Opendoor Technologies Stock Plummeted 11% Today

Group 1 - Opendoor Technologies' shares fell by 11% while the S&P 500 and Nasdaq Composite gained 0.3% and 0.5% respectively [1] - Redfin's report indicates a plateau in the housing market, with home sales and new listings remaining unchanged in October, reflecting economic uncertainty and high costs [2][6] - Opendoor is facing challenges as it holds billions in housing inventory that it needs to sell, negatively impacting its financial performance [3] Group 2 - The company's business model remains unproven, operating at a loss and heavily reliant on debt, which raises concerns for potential investors [4] - Analysts from The Motley Fool Stock Advisor have identified ten stocks they believe are better investment opportunities than Opendoor Technologies [5][6] - Opendoor's stock has declined nearly 30% over the past week, exacerbated by the stagnant housing market, leading to increased operating costs as the company holds onto unsold homes [6]