US Stock Movement | Opendoor Technologies' increase expanded to over 10%, with a cumulative surge of 840% since July
On Tuesday, "Meme stock" real estate online trading platform Opendoor Technologies continued to surge during the trading session, with the increase expanding to over 10%, and a cumulative surge of 840% since July, reporting at $5.02. On the news front, Federal Reserve Chairman Jerome Powell hinted at a dovish stance on monetary policy in his speech last week at Jackson Hole, suggesting that the central bank may consider interest rate cuts if the economy shows further signs of slowing down. Lower interest rates typically mean more affordable mortgages, which is a significant boost for the housing market and Opendoor's iBuying business model. Additionally, driven by optimistic sentiment, Opendoor's interim CEO Shrishia Radhakrishna recently expressed strong confidence in the company's future, emphasizing an AI-based multi-product model
According to Zhitong Finance APP, on Tuesday, the "meme stock" real estate online trading platform Opendoor Technologies (OPEN.US) continued to rise during the trading session, with the increase expanding to over 10%, and a cumulative surge of 840% since July, currently priced at $5.02. On the news front, Federal Reserve Chairman Jerome Powell hinted at a moderate stance on monetary policy in his speech last week at Jackson Hole, suggesting that the central bank may consider interest rate cuts if the economy shows further signs of slowing down. Lower interest rates typically mean more affordable mortgages, which is an important driver for the housing market and Opendoor's iBuying business model.
In addition, driven by optimistic sentiment, Opendoor's interim CEO Shrishia Radhakrishna recently expressed strong confidence in the company's future, emphasizing an AI-based multi-product model
