Real estate specialist Opendoor Technologies (OPEN 11.34%) jumped 11.8% to close at $3.60 on Thursday, outpacing both its sector peers and the broader market. Opendoor stock traded on volume of 199 million shares, just a bit under its 3-month average, as investors responded positively to bullish housing data.
The gains came despite a soft session across major indices. The S&P 500 (^GSPC -0.40%) fell by 0.4%, while the Nasdaq Composite (^IXIC -0.34%) dropped by 0.34%.
Among its real estate platform peers, Offerpad Solutions Inc (OPAD 2.29%) rose 2.3% to $1.34, and Zillow Group Inc Class C (Z 0.37%) edged up 0.4% to $81.40. Still, neither matched Opendoor's performance, underscoring investor enthusiasm unique to the stock.
The possible catalyst? A surprisingly strong July report from the National Association of Realtors showed a 2% month-over-month rise in existing home sales and a median closing price increase (now at $422,000). Additionally, investing podcast host Anthony Pompliano pushed back on the "meme stock" label, arguing that Opendoor's surge highlights the growing influence of retail investors who collectively identify and back investing opportunities. While some analysts remain cautious, the company's stock has still climbed 386% over the past three months.
Market data sourced from Google Finance and Yahoo! Finance on Thursday, Aug. 21, 2025.
