Hedge funder Eric Jackson believes Opendoor isn’t a meme stock and could rally over 3,000%. He sees it as a legitimate turnaround story with big potential despite a recent 92% drop. Jackson’s bullish call sparked a rapid rise in Opendoor’s stock, which surged almost 830% in July. He thinks the stock could hit $82 in the next few years. Opendoor has made aggressive cost cuts and lacks competition in the iBuying space. Jackson’s investment strategy focuses on finding undervalued stocks with a sustainable turnaround trajectory, aiming for 100-baggers like Alibaba and Microsoft.

Read more at Yahoo Finance: The hedge funder who sparked a speculative frenzy says he’s not playing the meme stock game