Opendoor (OPEN) Stock Surge Continues As Rate Cut Hopes Fuel Real Estate Rally
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Opendoor Technologies (NASDAQ:OPEN) shares surged 2.83% to $4.66, contributing to a 48% gain over the past five trading sessions, driven by optimism from the Federal Reserve regarding potential interest rate cuts. This favorable macroeconomic environment has boosted the housing market, benefiting Opendoor's iBuying model. Interim CEO Shrisha Radhakrishna has also outlined a vision for an AI-driven, multi-product future for the company. Opendoor's stock has seen a 114% increase over the past month, with a 52-week high of $5.87 and a low of $0.51.
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