US Stock Movement | Influencer stock Opendoor Technologies surged over 20%, skyrocketing 230% this month
On Thursday, Opendoor Technologies' stock price rose over 20%, with a monthly increase of 230%, closing at $1.76. The surge in stock price was accompanied by a spike in bullish options trading volume and heightened discussions on social media. Data from the Stocktwits platform showed that interest in Opendoor surged by 400% from Monday to Tuesday, with the growth rate doubling on Wednesday. This phenomenon indicates that the "Meme stock" trend is still present, and the record activity in bullish options related to Opendoor has driven the stock price up
According to Zhitong Finance APP, on Thursday, Opendoor Technologies (OPEN.US) rose over 20%, surging 230% this month, closing at $1.76. Accompanying the company's stock price surge is a significant increase in its call option trading volume and social media discussion activity. Tom Bruni, editor-in-chief and vice president of community at Stocktwits (a well-known social media platform for exchanging and discussing investment ideas in the U.S.), stated that interest in Opendoor surged by 400% from Monday to Tuesday, as measured by page views related to the stock ticker on the Stocktwits platform. This growth rate seemed to double again on Wednesday. Discussions about Opendoor have noticeably increased across multiple social media platforms.
For Bruni, Opendoor's sudden rise proves that the "Meme stock" phenomenon has not disappeared—this phenomenon drove the speculative stocks like GameStop and AMC to soar in early 2021, showcasing a dramatic "retail investor vs. Wall Street" showdown in the industry.
Meanwhile, on Wednesday, call option activity related to Opendoor reached record levels, further boosting the stock price. According to preliminary data from Dow Jones Market Data, approximately 560,000 call option contracts were traded that day. Opendoor's stock trading volume also hit a new high on Wednesday
