Core Insights - Opendoor Technologies Inc. is undergoing a significant transformation under new CEO Kaz Nejatian, shifting from a consultant-driven model to an AI-native real estate platform, which could redefine the economics of iBuying if executed successfully [1][4] Automation and AI Integration - The company has launched over a dozen AI-powered products, including automated home scoping and title workflows, which have drastically reduced home assessment times from nearly a day to about 10 minutes and cut underwriting staff from 11 to 1 [2][11] Performance Metrics - Weekly acquisition contracts have nearly doubled from mid-September to late October, enhancing inventory and buyer conversion, with management aiming for adjusted net income breakeven by the end of 2026 [3][11] Competitive Landscape - Offerpad Solutions, Inc. is a direct competitor, mirroring Opendoor's iBuying model, while LGI Homes operates in adjacent segments, utilizing technology to expedite home market entry, pressuring Opendoor to enhance automation across its processes [5][6][7][8] Stock Performance and Valuation - Opendoor's stock has surged 889% over the past six months, significantly outperforming the industry's 3.8% decline, and currently trades at a forward price-to-sales multiple of 1.42, well below the industry average of 4.68 [9][13]