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BTCC / BTCC Square / Global Cryptocurrency /
Opendoor Shares Drop 10% as CEO Backs Trump’s Proposed Ban on Institutional Homebuyers

Opendoor Shares Drop 10% as CEO Backs Trump’s Proposed Ban on Institutional Homebuyers

Author:
Global Cryptocurrency
Published:
2026-01-08 12:01:02
19
2
BTCCSquare news:

Opendoor Technologies Inc. (OPEN) shares fell sharply after former President Donald TRUMP announced plans to ban institutional investors from purchasing single-family homes. The 10% drop on January 7, 2026, reflects market concerns about potential policy impacts on iBuying platforms.

CEO Kaz Nejatian quickly clarified Opendoor's position, emphasizing the company operates as a marketplace rather than a long-term holder of properties. "We're not institutional investors—we're enablers of efficient transactions," Nejatian stated, attempting to distance the firm from Trump's proposed restrictions.

The policy announcement came via Truth Social, where Trump framed the MOVE as protecting American families from corporate competition. Market reaction was immediate, with Opendoor closing at $6.12 amid heavy trading volume. Analysts suggest the selloff reflects broader uncertainty about regulatory risks in proptech.

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