Over the past month, message volumes around the stock have grown 500% and nearly doubled over the past week.
Opendoor’s (OPEN) stock saw a more than 14,000% jump in the retail chatter over the last 24 hours after the company announced former Shopify executive Kaz Nejatian as its new CEO and revealed that co-founders Keith Rabois and Eric Wu were rejoining the board.
The spike in activity came after a nearly 80% jump in OPEN’s stock price–the largest single-day jump on record for the company– on Thursday to more than a three year-high of $10.70. Despite slipping 2.7% in pre-market trade on Friday, Opendoor remained the top trending ticker on Stockwits at the time of writing. Retail sentiment eased to ‘bullish’ from ‘extremely bullish’ over the past day, though retail chatter climbed to ‘extremely high’ from ‘high’. Over the past month, message volumes around the stock have grown 500% and nearly doubled over the past week.
Opendoor’s management and backers added to the momentum with a flurry of posts on X.
On Thursday morning, Nejatian wrote, “We are going to work very hard to make Opendoor an ideal place for people who want to go into founder mode. The only thing that should matter is building something people want. And we can, well, just build things.”
Board member and investor Eric Jackson, who helped draw retail attention in July after revealing EMJ Capital had taken a stake in Opendoor, kept up his commentary as well. His earlier post comparing the stock to Carvana helped fuel its rise as a meme trade, and on Thursday, he added, “I’m going to an $ABTC dinner next week and hope to meet the man,” in response to calls for Eric Trump to join the boards of both ABTC and Opendoor.
With shares up nearly 500% this year, Opendoor has become one of the most closely watched meme stocks among retail traders on Stocktwits.
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