Opendoor Technologies (NASDAQ: OPEN) stock fell 12% in January, driven by a drop in retail investor sentiment. The company’s business model centers around iBuying, but has faced challenges due to high interest rates impacting the housing market.

Despite a decline in revenue and home sales, Opendoor’s new CEO, Kaz Nejatian, has outlined a plan to improve operations. The company aims to scale acquisitions, speed up turnover, and utilize artificial intelligence to enhance efficiency.

As Opendoor stock approaches its next earnings report, investors are eager for positive news to drive a potential price increase. The stock is currently trading at a low multiple of sales, but the risk factor should be taken into consideration.

Investors should note that Opendoor Technologies did not make the list of the 10 best stocks to buy right now, as identified by The Motley Fool Stock Advisor team. The stocks that did make the cut have the potential for significant returns in the future.

The Motley Fool’s Stock Advisor service has a history of outperforming the market, with a total average return of 906%. For individual investors seeking community-driven insights, joining Stock Advisor may provide valuable opportunities for investment growth.

Read more at Yahoo Finance: Why Opendoor Stock Dropped 12% in January