Opendoor, Meme
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Amid this week's speculative frenzy in a handful of meme stocks, we asked AI what to look for when trying to pick the next candidate to go parabolic.
Investor enthusiasm faded for the latest meme stocks on Wednesday, with shares in heavily shorted Krispy Kreme and GoPro closing well below their session highs, while Tuesday's investor darling - department store Kohl's - finished sharply lower.
Opendoor's flawed business model struggles amid rising mortgage rates and housing downturns. Click here to read an analysis of OPEN stock now.
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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 latest bout of meme stock mania, in which retail investors are pocketing quick fortunes by piling into heavily-shorted stocks like Kohl’s Corp. and Opendoor Technologies Inc., is likely getting some help from what Wall Street derivatives pros call a gamma squeeze.
Opendoor (OPEN) has become the latest meme stock phenomenon, surging 350% in the past month and 100% since hedge fund manager Eric Jackson began promoting it on social media as a potential “100-bagger.
The market saw a fresh meme stock frenzy this week. While high exuberance can be a contrarian sell signal, sources say the market is still in good shape.