From Barchart: 2024-11-08 17:28:16

In the afternoon session, Opendoor (NASDAQ:OPEN) saw a 4.2% drop in shares following weaker third-quarter earnings and lower-than-expected revenue guidance for the next quarter. Despite this, revenue, EBITDA, and EPS beat analysts’ expectations, showing a mixed quarter with potential near-term challenges. The market reacts strongly to news, creating opportunities for investors to consider buying high-quality stocks like Opendoor.

Opendoor’s shares have been highly volatile, with 80 moves greater than 5% in the past year. The recent drop indicates the market sees the news as significant but not fundamentally changing its view of the company. Despite underwhelming revenue guidance, adjusted EBITDA guidance for the next quarter was strong, making it a positive quarter overall for shareholders. Opendoor’s stock is down 57.2% since the start of the year, presenting potential opportunities for thematic investing in promising growth stocks.



Read more at Barchart: Why Opendoor (OPEN) Stock Is Down Today