Shares of Opendoor Technologies (NASDAQ: OPEN) plummeted 24% after a disappointing second-quarter earnings report, despite beating estimates. Revenue fell 53% to $1.98 billion and homes sold dropped by nearly half to 5,383. The company expects to purchase 3,000 homes per quarter for the rest of the year. Adjusted EBITDA showed a loss of $168 million, compared to a profit of $218 million a year ago. For the third quarter, revenue is expected to decline to $950 million to $1 billion, with an adjusted EBITDA loss of $60 million to $70 million. The stock may struggle until the business proves profitability.

Read more at Nasdaq: Why Opendoor Technologies Stock Was Falling Today