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Opendoor Technologies Stock Surges Amid Activist Investor Pressure and AI Pivot Speculation
Opendoor Technologies Stock Surges Amid Activist Investor Pressure and AI Pivot Speculation
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BTCCSquare news:
Opendoor Technologies (OPEN) shares rallied 8.2% intraday Tuesday, extending July's meme-stock momentum despite disappointing Q2 results. The rebound follows activist investor Eric Jackson's campaign to replace CEO Carrie Wheeler, who acknowledged deteriorating housing market conditions during last week's earnings call.
EMJ Capital's Jackson and retail investors argue the iBuying platform sits on untapped data assets that could transform the company into an AI-driven real estate powerhouse. While Q2 showed shrinking net losses and the first positive EBITDA since 2022, revenue growth disappointed analysts. Co-founder Keith Rabois escalated tensions by publicly calling Wheeler "utterly incompetent" as pressure mounts for leadership changes.
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