{"id":149336,"date":"2025-09-11T16:23:11","date_gmt":"2025-09-11T16:23:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/149336\/"},"modified":"2025-09-11T16:23:11","modified_gmt":"2025-09-11T16:23:11","slug":"opendoor-stock-soars-60-after-company-names-new-ceo","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/149336\/","title":{"rendered":"Opendoor stock soars 60% after company names new CEO"},"content":{"rendered":"

OpenDoor is disrupting the real estate market with its new model. It buys homes and sells them on its platform.<\/p>\n

Opendoor<\/p>\n

Opendoor<\/a> stock rocketed 60% higher on Thursday after the retail favorite named Shopify<\/a> executive Kaz Nejatian as CEO and co-founder Keith Rabois as chairman.<\/p>\n

The meme stock<\/a> hit a 52-week high and continued a stunning run this year, with shares up more than 400% so far.<\/p>\n

Former CEO Carrie Wheeler<\/a> resigned last month following a pressure campaign from investors that included critical comments from Rabois and hedge fund manager Eric Jackson<\/a>, who has been a key part of the stock’s resurgence this year.<\/p>\n

Jackson built a massive following on X in part due to his successful bet on Carvana<\/a>, and then turned his attention to cheering a turnaround at Opendoor.<\/p>\n

Opendoor said<\/a> Wednesday that it was “going into founder mode” by bringing Rabois and Eric Wu, who served as the company’s first CEO before stepping down in 2023, back to the board.<\/p>\n

The company went public through a special purpose acquisition company in 2020. Opendoor’s business involves using technology to buy and sell homes, pocketing the gains.<\/p>\n

Nejatian said the company will use artificial intelligence<\/a> to make the process of buying and selling a home “radically simpler, faster and more certain.”<\/p>\n

Shares of Opendoor traded below $1 earlier this year, and the company was in danger of being delisted from the Nasdaq.<\/p>\n

Stock Chart IconStock chart icon\"hide<\/p>\n

opendoor year to date stock chart.<\/p>\n

Don\u2019t miss these insights from CNBC PRO<\/p>\n","protected":false},"excerpt":{"rendered":"OpenDoor is disrupting the real estate market with its new model. It buys homes and sells them on…\n","protected":false},"author":2,"featured_media":149337,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[5681,28,122,92328,31625,1170,92327,74],"class_list":{"0":"post-149336","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-breaking-news-technology","9":"tag-business","10":"tag-business-news","11":"tag-carvana-co","12":"tag-opendoor-technologies-inc","13":"tag-real-estate","14":"tag-shopify-inc","15":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/149336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=149336"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/149336\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/149337"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=149336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=149336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=149336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}