Here's How Opendoor's New CEO Plans to 10X the Business

Core Insights - Opendoor Technologies' stock performance in 2025 has shown significant recovery, rising from a low of less than $0.60 per share to over 10 times that value, despite initial struggles that led management to consider a reverse split [1][2][7] - Hedge fund manager Eric Jackson has identified Opendoor as a potential 100x investment, emphasizing the company's ability to leverage data for AI-powered tools and its position as the last major iBuying platform [2] - The appointment of Kaz Nejatian as the new CEO aligns with Jackson's investment thesis, as Nejatian has ambitious plans to revitalize and scale the business [3][5] Company Strategy - Nejatian has initiated significant changes within Opendoor, including the development of over a dozen AI products and tools aimed at enhancing the home buying and selling process [5] - The traditional iBuying model, which relies on high fees and favorable market conditions, has proven risky, as evidenced by the exit of Zillow Group and Redfin from the market during downturns [6] - Nejatian's strategy focuses on technology development to simplify transactions, controlling expenses, increasing home purchase volumes, and improving home pricing accuracy [8]