Core Insights - Opendoor Technologies Inc. (NASDAQ:OPEN) experienced a significant stock surge, reaching an all-time high with an increase of up to 82% during trading, driven by investor optimism following leadership changes [1][3][4] - The stock peaked at $10.7 during intra-day trading, ultimately closing at $10.52, reflecting a 79.52% increase [2] Leadership Changes - Co-founders Keith Rabois and Eric Wu are returning to the Board of Directors, with Rabois assuming the chairmanship [3][4] - Kaz Nejatian, previously the chief operating officer of Shopify, has been appointed as the new CEO and board member, succeeding former CEO Carrie Wheeler [4] Strategic Direction - Rabois is noted for his bold and aggressive business strategy, contrasting with Wheeler's more cautious approach [5] - The leadership transition is seen as a potential catalyst for the company's growth and transformation in the market [4][5]

Opendoor Technologies - Opendoor Technologies has appointed a new CEO, a former Shopify executive, with a compensation package that could total $2.78 billion if he successfully triples the company's share price [6][10] - The new CEO will be overseen by Opendoor's founders, Eric Wu and Keith Rabois, who have returned to the board [7] - The company is entering a "founder mode" with the new leadership structure and additional financing [8] Boring Company - Boring Company's tunneling operations in Las Vegas were temporarily halted due to a worker suffering a "crushing injury" [10][11] - Investigations revealed multiple injuries among employees during Boring Co. projects, prompting increased oversight from the Las Vegas Convention and Visitors Authority [12] - The company is testing self-driving Tesla vehicles in its tunnels and is preparing for new tunnel systems in Nashville [13] Figure Technology - Figure Technology, a blockchain lender, went public on Nasdaq after raising $787.5 million in its IPO, with shares initially listed at $25 and closing at $31.11, valuing the company at over $6 billion [14][16] - The company focuses on utilizing blockchain for mortgages, facilitating approximately $6 billion in loans from June 2024 to June 2023, generating over $190 million in revenue and nearly $30 million in net income in the first half of the year [15] - The IPO is part of a broader trend of crypto companies going public, with other notable IPOs in the sector occurring recently [16]

Core Insights - Opendoor Technologies is experiencing significant stock price increases, gaining 142% in August and 278% year-to-date, raising questions about whether this is due to its business fundamentals or meme stock dynamics [1][10] Business Environment - The iBuying market is currently challenging, with a lack of homes for sale as homeowners are reluctant to sell due to high mortgage rates [3][5] - Opendoor's business model is capital-intensive, requiring successful cycles of high sales to minimize reliance on external capital [4] Market Performance - Home sales have declined, with new homes sold falling 0.06% from June and 8.2% from July of the previous year [5] - Opendoor's revenue increased by 34% year-over-year in Q2, and its net loss improved from $92 million last year to $29 million this year [6][7] - The company purchased only 1,757 homes in the quarter, a decrease of 63% year-over-year and 51% from Q1, ending with $1.5 billion in inventory, down 32% from Q1 [7] Strategic Initiatives - Opendoor has piloted a new program collaborating with outside agents, resulting in double the number of customers ready for cash offers compared to its direct model [8] - The new model is expected to create a capital-light earnings stream, enhancing sales and margins [9] Future Outlook - The Federal Reserve's potential interest rate cuts could benefit Opendoor, positioning it well for a market recovery [9] - Despite positive developments, the stock price surge appears disconnected from operational improvements, influenced by activist and retail investor activity [10][12]

Market Overview - All major U.S. stock indices, including the S&P 500 and Nasdaq 100, reached new highs, driven by investor optimism regarding potential interest rate cuts despite rising inflation and jobless claims [1] - The S&P 500 closed at 6,587.47, up 0.85%, while the Nasdaq increased by 0.72% to 22,043.07, and the Dow Jones surged 1.36% to 46,108 [2] Company Highlights - **Opendoor Technologies Inc.**: Shares skyrocketed by 79.52% to close at $10.52 after announcing Kaz Nejatian as the new CEO and the return of co-founders to the board. The stock hit an intraday high of $10.70 [2] - **Super Micro Computer Inc.**: Shares rose slightly by 0.09% to close at $43.95, with a notable after-hours increase of 4.14% to $45.77 after announcing the shipment of NVIDIA Blackwell Ultra solutions [3] - **Adobe Inc.**: Experienced a modest increase of 0.11% to close at $350.55, with after-hours trading rising 2.8% to $360.31. The company reported record third-quarter revenue of $5.99 billion, beating estimates [4] - **Tesla Inc.**: Shares climbed 6.04% to close at $368.81, driven by strong demand for Model Y L orders in China, surpassing 120,000 [5] - **Rezolve AI**: Stock surged 8.64% to close at $6.79, with a new Visual Search tool launch and a significant valuation gap compared to AI sector peers [6]

Core Viewpoint - Opendoor Technologies has experienced a significant surge in stock price, rising as much as 56% in a single day and up 476% year-to-date, driven by leadership changes and strong retail investor support [1][2][5]. Group 1: Leadership Changes - Co-founders Keith Rabois and Eric Wu are returning to the board, with Rabois taking on the role of chairman, and Kaz Nejatian, former COO of Shopify, has been appointed as the new CEO [2][6]. - The return of the founders has been positively received by the retail investing community, which has been instrumental in Opendoor's rise as a meme stock [3][5]. Group 2: Investor Sentiment - Prominent hedge fund manager Eric Jackson has been a vocal supporter of the leadership changes, suggesting they could lead to a turnaround for the company and has set a price target of $82 for the stock [3][4]. - The retail investor base remains highly motivated and supportive of Jackson's vision for the company, indicating a strong belief in the potential for future growth [5][6]. Group 3: Market Reaction - The stock's positive reaction to the leadership update reflects investor optimism about a new chapter for Opendoor, which has been struggling in the real estate sector [4][5]. - The company's status as a meme stock continues to thrive, with a dedicated group of retail traders rallying behind the recent changes [5][6].

Core Insights - Opendoor Technologies has appointed Kaz Nejatian as CEO with a compensation package potentially worth $2.78 billion, contingent on significant stock price performance [1][3] - Nejatian's compensation structure emphasizes equity awards tied to stock price, marking a shift from traditional CEO compensation plans [3][4] - The company is returning to a "founder mode" approach, with founders Eric Wu and Keith Rabois taking active roles on the board [2][3] Compensation Structure - Nejatian will receive a $15 million cash award and a $15 million restricted-stock unit award, both vesting in nine months [3] - He will also receive performance-based awards, including 40.9 million shares that vest over five years, contingent on maintaining a stock price of $6.24 or higher [4] - A second performance award includes seven stock price hurdles ranging from $9 to $33, with vesting tied to achieving these price milestones [5] Leadership Changes - The board will include Opendoor's founders, with Rabois appointed as chairman, aiming to reinvigorate the company's "founder DNA and energy" [2][3] - Two directors, Pueo Keffer and Glenn Solomon, have stepped down, indicating a significant leadership reshuffle [2]

Opendoor Technologies OPEN stock price soared after the company named a new CEO on Wednesday. The Opendoor Analyst: JPMorgan analyst Dae Lee says the new CEO’s expertise could help accelerate bottom-line improvements and AI tools.He maintains an Overweight rating on Opendoor Technologies with no price target.Read Also: Opendoor Stock Rallies On New CEO, Founders Rabois And Wu Return To Board To ‘Inject Founder DNA’The Analyst Takeaways: Lee is bullish after Opendoor tapped Shopify Chief Operating Officer Ka ...

This live blog is refreshed periodically throughout the day with the latest updates from the market. To find the latest Stock Market Today threads, click here. Happy Thursday. This is TheStreet's Stock Market Today for Sept. 11, 2025. You can follow the latest updates on the market here with our daily live blog. Update: 10:36 a.m. ET Equities Rally: Indexes Setting All-Time Highs The Dow (+1.27%), S&P 500 (+0.71%), and Nasdaq Composite (+0.56%) just notched fresh intraday highs, continuing to add to gain ...

Opendoor Technologies Inc. (NASDAQ: OPEN ) shares are up Monday morning, about 4.5% in pre-market. The stock has been on quite a run this summer, up 454% on the 6-month chart. However, many investors and analysts alike are worried aboutI’m a retired Wall Street PM specializing in TMT; since kickstarting my career, I’ve spent over two decades in the market navigating the technology landscape, focusing on risk mitigation through the dot com bubble, credit default of ‘08, and, more recently, with the AI boom. ...

Opendoor Technologies, Inc. OPEN stock climbed in Wednesday’s extended trading after the company announced that Kaz Nejatian, COO of Shopify, Inc. SHOP, was appointed chief executive officer and that co-founders Keith Rabois and Eric Wu are returning to the board of directors. “Founder DNA” Investors cheered the new CEO and return of co-founders Rabois and Wu.Rabois will assume the role of chairman of the board, and Eric Feder will continue in his role as lead independent director.Read Next: Oracle Stock Ro ...