1. Opendoor proposed a reverse stock split to maintain Nasdaq listing. 2. Eric Jackson's bullish posts influenced Opendoor's stock, surging 189% this week. 3. Recent gains come despite ongoing company losses and weak fundamentals. 4. Opendoor faces little competition in the cash home-selling market. 5. Jackson estimates substantial revenue growth potential for Opendoor by 2029.
Eric Jackson's endorsement drove Opendoor's shares up significantly, reflecting speculative optimism. Historically, similar endorsements in the tech sector, such as with Carvana, have led to substantial rebounds.
The article highlights a significant price movement tied to social media influence, which could attract more retail investors if sustained. However, continuing financial struggles could temper long-term viability.
The immediate surge is likely driven by hype around Jackson's posts; sustainability depends on fundamentals. The company's history suggests volatility over the coming months rather than permanent recovery.