Core Viewpoint - The article discusses the recent surge in Opendoor's stock price, driven primarily by retail investors, and highlights the potential disconnect between the stock's performance and the company's fundamentals [2][11][21]. Group 1: Stock Performance - Opendoor's stock price experienced a dramatic increase, with a rise of over 23% in pre-market trading on July 22, and a staggering 502% increase in July up to the 21st [1][6]. - On the previous trading day, the stock price soared by over 120%, triggering a trading halt, and ultimately closed up by 42% [5][4]. - The trading volume for Opendoor reached an astonishing 1.9 billion shares, accounting for nearly 10% of the total trading volume on U.S. exchanges that day [7]. Group 2: Retail Investor Activity - There was a significant increase in retail investor interest in Opendoor, with a 400% rise in page views related to the stock on the Stocktwits platform [8]. - The stock was also among the most actively traded on Stocktwits on July 21 [9]. - Retail investors shared their holdings on platforms like Reddit's WallStreetBets, reminiscent of past "meme stock" phenomena [10][11]. Group 3: Company Fundamentals - Opendoor has not reported a profitable fiscal year since its listing in December 2020, with its stock price previously dropping to $0.51 per share in June [13][14]. - The company received a delisting warning from Nasdaq due to its stock price being below $1 for 30 consecutive trading days [14]. - Analysts have noted that the high short interest in Opendoor, at approximately 24% of its float, is a characteristic of "meme stocks" [11][20]. Group 4: Market Sentiment and Speculation - The surge in Opendoor's stock price was partly triggered by buy recommendations from Eric Jackson, founder of EMJ Capital, who expressed optimism about the company's future [17]. - The options market saw over 2 million call options traded for Opendoor, marking the highest daily volume in the company's history [15]. - Financial experts have drawn parallels between the current market behavior surrounding Opendoor and the speculative trading seen during the 1999 dot-com bubble [22].