Core Insights - Opendoor Technologies has experienced a remarkable year, with its stock price increasing over 1,100% in the last six months, achieving meme stock status [1][8] - The company has undergone significant leadership changes, including the resignation of CEO Carrie Wheeler and the appointment of Kaz Nejatian as the new CEO [5][6] - Nejatian has introduced a plan to issue tradable warrants to shareholders, aimed at boosting share prices and creating challenges for short sellers [7][8] Company Performance - Opendoor's stock performance was lackluster in the first half of 2025, declining from approximately $1.60 per share to $0.53 per share by June 30 [4] - The second half of the year saw a dramatic turnaround, with the stock achieving meme status and experiencing significant volatility [5][8] - The Q3 earnings report showed a slight revenue beat of $915 million compared to the expected $850 million, but a net loss of $0.08 per share, slightly worse than the anticipated loss of $0.07 per share [6] Strategic Initiatives - The new CEO announced that shareholders holding at least 30 shares on November 18 would receive tradable warrants, which can be exercised at specific prices [7] - The warrants will be distributed in sets of three, with exercise prices of $9, $13, and $17, expiring in November 2026 [7][8] - This initiative is designed to enhance shareholder value and complicate the situation for short sellers [7][8]