Shares of Opendoor Technologies (OPEN 25.41%) surged 25.62% on Thursday, closing at $3.04 as volume spiked to nearly 316 million shares -- roughly 66% above the 3-month average. The stock became a top target for retail traders following increased chatter on social platforms and signs of elevated short interest, sending it to its highest level since early spring.
The broader market was relatively quiet in comparison. The S&P 500 edged up 0.03%, while the Nasdaq Composite dipped by 0.01%. Most large-cap tech and real estate-related names traded within a narrow range as investors weighed interest rate expectations against recent economic data.
Among sector peers, Offerpad Solutions (OPAD 17.69%) rose 13.5% to $1.51, also attracting speculative interest from traders betting on a broader iBuyer rebound. Zillow Group (Z 0.51%) gained 0.5% to $85.27, though its movement was more muted in comparison.
Opendoor's rally was driven by a combination of short-squeeze dynamics and renewed hope that the company could benefit from a rebound in housing activity. The spike in borrowing fees and growing traction among meme-stock traders pushed the stock sharply higher. While the move energized bullish sentiment, analysts cautioned that the company's fundamentals remain uncertain.
Market data sourced from Google Finance and Yahoo! Finance on Tuesday, Aug. 14, 2025.
