Up a Staggering 360%, Is It Too Late to Buy Opendoor Technologies Stock?

Core Viewpoint - Opendoor Technologies has experienced significant volatility, with a notable decline in value in 2024, but has seen a remarkable recovery in 2023, gaining approximately 360% year-to-date as of November 28 [2][10]. Company Performance - The company's stock was previously a strong performer but has recently shown signs of stagnation, particularly after a rally from July to September [2][11]. - Trading volumes have decreased, indicating a potential decline in interest from retail investors, which may affect future stock performance [3][5]. Financial Health - Opendoor's financials remain concerning, with the company unprofitable and experiencing declining revenue, despite the recent stock rally [6][10]. - The gross profit margin has averaged only 8% over the past 12 months, highlighting challenges in profitability [9][10]. - The company has appointed a new CEO, Kaz Nejatian, who aims to improve efficiency through artificial intelligence, but skepticism remains regarding the ability to achieve profitability [8][9]. Market Position - The stock is currently trading at a low valuation of 1.2 times its trailing revenue, but the lack of profitability and growth raises concerns about further declines [12]. - The excitement from retail investors, which previously supported the stock's rise, appears to be waning, suggesting limited potential for future rallies unless financial conditions improve significantly [11].