Why Opendoor Technologies Stock Crashed This Week
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Opendoor Technologies' stock has experienced significant volatility, dropping nearly 20% this week after a 245% surge in July. The decline follows a challenging housing market and disappointing revenue reports, despite a recent improvement in second-quarter earnings. The stock's high short interest led to a short squeeze, but the bubble has burst, resulting in a $1 billion loss in market cap. While a recovering housing market and potential Federal Reserve interest rate cuts could benefit Opendoor in the long term, short-term prospects remain uncertain with expected revenue declines in Q3.
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