Opendoor Technologies Stock Is Falling: What's Going On?

Benzinga

Opendoor shares fell 2% as investors questioned its path to profitability despite new buyer perks like a seven-day “home test drive.” Analysts remain split on whether the iBuyer model can sustain growth after a 600% rally.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Open Door shares slipped Tuesday as investors debated the company's profitability prospects,

00:06according to Benzinga.

00:08CEO Kaz Dejitalian recently introduced new buyer perks, including a seven-day home test

00:12drive and a 100-day warranty.

00:15Edge fund manager George Noble dismissed the move as a nothing burger, arguing Open Door's

00:19unit economics remained unsustainable.

00:21Critics such as Citron Research and Martin Skrilli echoed doubts over the iBuyer model,

00:25even after the stock's 600% rally since June and court approval of derivative settlement.

00:31Polish investor Eric Jackson countered that Open Door can revive housing liquidity and

00:35capture 10% market share.

00:37Shares fell 2.32% to $9.06 on Tuesday afternoon, according to Benzinga Pro.

00:42For all things money, visit Benzinga.com.

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