Overview
- Shares jumped as much as 15% intraday to $6.85 on Friday before closing up 11.6% at $6.65 on heavy volume.
- The August jobs report showed 22,000 non-farm jobs added versus about 75,000 expected, increasing the odds of a Federal Reserve cut on Sept. 16–17.
- Lower rates could ease Opendoor’s financing costs and support housing demand, which investors see as a potential tailwind for the business.
- Citron Research attacked the company’s model on social media, yet the stock quickly rebounded and finished higher despite the short-seller criticism.
- Enthusiasm was also tied to an investor campaign urging co-founder Keith Rabois’ return to the board, as the stock extends a retail-driven rally of roughly 300% this year.