Opendoor soars as management says Trump’s push to end institutional home-buying wouldn’t hurt the company
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Opendoor Technologies shares surged after management clarified that President Trump's proposal to ban institutional home-buying would not negatively impact the company. CEO Kaz Nejatian emphasized that Opendoor is a home-flipper, not a long-term holder, and aims to minimize the time homes are held on its balance sheet. Following a 13% drop in shares, Nejatian's endorsement of the proposal helped stabilize the stock, with Chairman Keith Rabois suggesting the policy could enhance business conversion.
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