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Meme Stock Opendoor Skyrockets as Firm Names New CEO, Brings Back Co-Founders to Board

1. Opendoor names Kaz Nejatian as new CEO, boosting investor confidence. 2. Co-founders Keith Rabois and Eric Wu return to board, enhancing leadership. 3. Rabois and Wu's firm invests $40 million to support company's growth. 4. Opendoor shares soared 50% following these strategic leadership changes. 5. Stock price increased significantly from $0.53 to nearly $9 since July.

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FAQ

Why Very Bullish?

Leadership changes often lead to renewed investor enthusiasm, as seen in companies like Amazon with Andy Jassy's transition.

How important is it?

New CEO and co-founders' involvement signal a positive strategic direction for Opendoor.

Why Short Term?

Immediate gains from leadership changes often spike interest but stabilize over time.

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