Opendoor Stock Rallies On Expansion And Short Squeeze Hopes
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Opendoor Technologies, Inc. (OPEN) shares surged 14% on Wednesday following the company's announcement of plans to expand operations across the U.S. The vague SEC filing indicated intentions to offer services like cash home purchases and enhanced selling options in the coming weeks. The stock's rise is attributed to investor optimism amid potential Federal Reserve interest rate cuts and high short interest, with 26.61% of shares sold short. CEO Kaz Nejatian emphasized direct communication with retail investors through social media, enhancing trust and transparency.
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