Opendoor Technologies has recently gained favor as a meme stock and seen incredible valuation gains, but the company's share price is pulling back today as investors take profits on recent gains. Despite big sell-offs in today's session, the stock is still up 330% over the last month.

The ticker $OPEN has been heavily cited on WallStreetBets, the online forum behind the infamous GameStop mania in 2021.

Retail investors have begun to pile into speculative bets on small-cap companies in a buildup that resembles the meme stock frenzy of 2021.

No one knows where Opendoor stock is headed in the short term, though volatility seems guaranteed. Volatility does create opportunity, but it also increases the risk for catastrophic losses as existing shareholders have experienced with the stock down more than 20% on July 23.

Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.

As of noon Wednesday, the price of Opendoor stock had fallen to $2.05. That’s a drop of nearly 50% in just a few hours of trading.

Krispy Kreme and action camera company GoPro have joined the meme stock rally as their shares surge. Like the shares of Opendoor and Kohl’s, both Krispy Kreme and GoPro were heavily cited by users of the wallstreetbets subreddit. The meme stock rally is back and gathering steam.

Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.