---
title: "Weekly Recap | OPEN 2X Long ETF -46.5%, consensus target above spot"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/304711566.md"
description: "OPEX.US fell 46.5% this week to close at $1.07, while the S&P 500 lost 2.68%, leaving the ETF about 43.82 percentage points behind the benchmark. The daily bars show a choppy week: an early gain on Monday gave way to a gap higher on Wednesday to $2.53, followed by a sharp sell-off on Friday that ended near the low of $1.015."
datetime: "2026-11-07T04:50:31.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/304711566.md)
  - [en](https://longbridge.com/en/news/304711566.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/304711566.md)
generator: "portal-rs"
---

# Weekly Recap | OPEN 2X Long ETF -46.5%, consensus target above spot

## The Week

OPEX.US fell 46.5% this week to close at $1.07, while the S&P 500 lost 2.68%, leaving the ETF about 43.82 percentage points behind the benchmark. The daily bars show a choppy week: an early gain on Monday gave way to a gap higher on Wednesday to $2.53, followed by a sharp sell-off on Friday that ended near the low of $1.015.

## Opendoor Tech This Week

Opendoor Tech dropped 22.22% this week to close at $1.40. The stock traded around $1.85 early in the week, bounced to $2.07 on Wednesday, then slid to end the week just above the low of $1.37. Volume picked up on Friday as the move accelerated.

## Leverage & Decay

This ETF replicates twice the daily move of Opendoor Tech, not twice the weekly move. With the underlying down 22.22% for the week, the theoretical 2x result was about -44.44%; the actual result was -46.5%, a gap of -2.06%. The difference comes from daily rebalancing. Wednesday’s sharp bounce in the underlying amplified gains, but the following two down days compounded the drawdown, leaving the product’s weekly loss slightly larger than a simple doubling of the weekly decline.

## Opendoor Tech News

Third-quarter earnings drove the agenda this week. Before the report, the stock rose early in the week as the CEO pushed back on Mark Cuban’s housing comments, then hit a fresh 52-week low in after-hours trading on Wednesday despite an intraday rally of over 16%. On Friday, Opendoor reported Q3 revenue of $1.02 billion, missing the $1.04 billion consensus. The stock fell nearly 13% and marked another 52-week low during regular trading.

## Opendoor Tech — Analyst Ratings

As of 2 November, sell-side coverage stood at 1 buy, 1 over, 5 hold, 1 under and 1 sell across 9 firms, with a consensus rating of hold. The consensus target price was $3.91, about 179.6% above the latest close of $1.40. Targets ranged from $1.00 to $7.00, a wide spread that points to divided expectations.

## The Week Ahead

On the macro side, US wholesale sales, the NFIB small business optimism index and several CPI prints land between 9 and 10 November. Opendoor’s own fourth-quarter results are not due until 25 February 2027, so the near-term focus shifts to housing and resale-market data.

## In Short

Earnings were the centre of gravity this week. A revenue miss and a difficult resale market pushed Opendoor lower, and the leveraged ETF turned those daily swings into a larger cumulative drawdown. A neutral consensus rating and a target above spot sit against the latest session’s net outflows, leaving the next CPI data as the main catalyst for a fresh read on direction.

*This article is generated by LongbridgeAI from market data, for information only and not investment advice.*

### Related Stocks

- [OPEX.US](https://longbridge.com/en/quote/OPEX.US.md)

## Related News & Research

- [Opendoor Technologies (OPEN) On Leaner Operations Narrative As Wider Losses Reset Valuation Debate](https://longbridge.com/en/news/304706794.md)
- [Opendoor Just Posted Q3 Results: What You Need to Know](https://longbridge.com/en/news/304532124.md)
- [Opendoor Q3 revenue rises on acquisition growth](https://longbridge.com/en/news/304527205.md)
- [Credo Technology Stock Is Surging Wednesday: What's Going On?](https://longbridge.com/en/news/305155753.md)
- [OPEN: Acquisitions surged and unit costs fell, but a difficult resale market clouds profitability](https://longbridge.com/en/news/304526886.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**