Why Opendoor Technologies Stock Was Soaring Today
Shares of Opendoor Technologies (NASDAQ: OPEN) were skyrocketing again today, capping off a remarkable week for the online home-flipper, which has surged on a combination of a meme stock rally, a possible short squeeze, and a thesis shared on Reddit and X.com that the company could be the next Carvana -- a stock that has jumped more than 100 times after nearly going into bankruptcy a few years ago.
Today's move also likely benefits from it being Options Friday, as monthly options expires on the third Friday of the month, which tends to trigger higher volatility, especially in volatile stocks like Opendoor.
As of 10:33 a.m. ET, the stock was up 19.4%. The stock had jumped as much as 39% earlier in the session before giving up some of those gains.
Source Fool.com
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