Why Opendoor Technologies Stock Crashed Today
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Opendoor Technologies' stock fell 14.73% today after a significant 80% surge yesterday following the appointment of a new CEO. Co-founder Keith Rabois expressed concerns about the company's workforce, labeling it "bloated" and indicating potential layoffs. He emphasized a return to in-person work culture, distancing the company from its recent meme stock status. Investors are likely selling shares amid uncertainty about the company's fundamentals and the housing market's future.
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