Opendoor (OPEN) Skyrockets 49.4% as Co-Founder Returns

Opendoor Technologies Inc. (OPEN) surged by 49.44% in the last four trading weeks, reaching a new all-time high, driven by investor support for co-founder Keith Rabois’ return to the board.

The stock hit a 52-week high of $6.85 on Friday before closing at $6.65, up 11.58%. Investors believe Rabois’ bold strategy will revive the company compared to previous leadership. Eric Jackson’s campaign for Rabois led to high expectations of a lower interest rate at the Federal Reserve’s next meeting, benefiting Opendoor as a real estate technology company.