Opendoor’s Inventory Crisis Highlights Real Estate Market Stagnation
Opendoor Technologies faces mounting pressure as its stock plunges 24% in five days. The digital home-flipping platform's 7% gross margins look increasingly precarious against a backdrop of frozen housing activity. Redfin's October data reveals a market paralyzed by economic uncertainty—neither buyers nor sellers are moving.
The company's billions in unsold inventory now represent a ticking time bomb. CFO Christina Schwartz's $583,000 stock sale, though tax-related, further erodes confidence. Wall Street's Hold rating and 29.4% downside projection suggest the pain may just be beginning for this proptech disruptor.