<p>房地产科技公司 <strong>Opendoor Technologies</strong>(OPEN -3.16%) 的股票在今年经历了剧烈波动。2025 年上半年，股价稳步下滑，截至 6 月损失约 65%。但 7 月情况有所不同，股价飙升了 245%。</p>
<p>不过，Opendoor 的股票本周逆转了走势，最低时下跌近 20%。根据标准普尔全球市场情报提供的数据，截至周五早些时候，股价仍较本周下跌了 12%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjg0NzcvbWVtZS1zdG9jay1tYW5pYS5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjg0NzcvbWVtZS1zdG9jay1tYW5pYS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>泡沫总会破裂</h2>
<p>关于 Opendoor 股票的近期故事，实际上并不是关于其基础业务。2025 年早些时候，随着公司在艰难的房地产市场中报告收入下降，股价开始下跌。Opendoor 引起了零售投资者和交易者的关注，他们在 7 月将其变成了一只 meme 股票。</p>
<p>截至 7 月中旬，超过 21% 的流通股被空头卖家持有。这一高空头头寸导致了空头挤压。但这个泡沫现在已经破裂，上个月 Opendoor 的市值峰值蒸发了 10 亿美元。</p>
<h2>住房环境改善</h2>
<p>Opendoor 本周报告了第二季度业绩改善。与去年第二季度相比，收入恢复了增长模式，并且超过了公司之前的指引。然而，这并不足以推动股价上涨，因为 Opendoor 仍在亏损，meme 股票的激增尚未完全消退。</p>
<p>不过，一旦这种情况发生，Opendoor 的业务可能会迎来转机。上周的疲软就业报告提高了美联储降息的可能性。由于这一点，抵押贷款利率也已经下降。</p>
<p>不过，目前 Opendoor 表示，第三季度的收入实际上将环比下降。这可能意味着 Opendoor 股票在短期和中期内还有更多下行空间。乘坐 meme 浪潮的投资者可能会继续撤出。</p>
<p>从长远来看，房地产市场的强劲复苏可能会帮助 Opendoor 逆转局面，股价再次上涨。不过，这可能不会很快发生。</p>

OPEN

<p>Opendoor Technologies 的股票经历了显著的波动，本周下跌近 20%，而在 7 月份曾飙升 245%。此次下跌是由于房地产市场面临挑战以及令人失望的收入报告，尽管最近第二季度的收益有所改善。股票的高空头头寸导致了空头挤压，但泡沫已经破裂，市值损失达 10 亿美元。尽管恢复的房地产市场和潜在的美联储降息可能在长期内对 Opendoor 有利，但短期前景仍然不确定，预计第三季度收入将下降</p>

<p>Shares in real estate technology company <strong>Opendoor Technologies</strong>(OPEN -3.16%) have been on a wild ride this year. The stock steadily declined throughout the first half of 2025, losing about 65% through June. But July was another story with shares skyrocketing 245%.</p>
<div class="lb-trans"><p>房地产科技公司 <strong>Opendoor Technologies</strong>(OPEN -3.16%) 的股票在今年经历了剧烈波动。2025 年上半年，股价稳步下滑，截至 6 月损失约 65%。但 7 月情况有所不同，股价飙升了 245%。</p>
</div><p>Opendoor stock reversed course this week, though, dropping nearly 20% at its low. As of early Friday, shares were still lower by 12% for the week, according to data provided by S&amp;P Global Market Intelligence.</p>
<div class="lb-trans"><p>不过，Opendoor 的股票本周逆转了走势，最低时下跌近 20%。根据标准普尔全球市场情报提供的数据，截至周五早些时候，股价仍较本周下跌了 12%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjg0NzcvbWVtZS1zdG9jay1tYW5pYS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F828477%2Fmeme-stock-mania.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Bubbles always burst</h2>
<div class="lb-trans"><h2>泡沫总会破裂</h2>
</div><p>The recent story around Opendoor stock really hasn't been about its underlying business. Shares were dropping earlier in 2025 as the company reported declining revenue in a difficult housing market. Opendoor caught the eye of retail investors and traders who turned it into a meme stock in July.</p>
<div class="lb-trans"><p>关于 Opendoor 股票的近期故事，实际上并不是关于其基础业务。2025 年早些时候，随着公司在艰难的房地产市场中报告收入下降，股价开始下跌。Opendoor 引起了零售投资者和交易者的关注，他们在 7 月将其变成了一只 meme 股票。</p>
</div><p>More than 21% of the stock's float was held by short-sellers as of mid-July. That high short interest resulted in a short squeeze. But that bubble has now burst, shaving $1 billion from Opendoor's peak market cap last month.</p>
<div class="lb-trans"><p>截至 7 月中旬，超过 21% 的流通股被空头卖家持有。这一高空头头寸导致了空头挤压。但这个泡沫现在已经破裂，上个月 Opendoor 的市值峰值蒸发了 10 亿美元。</p>
</div><h2>An improving housing environment</h2>
<div class="lb-trans"><h2>住房环境改善</h2>
</div><p>Opendoor reported improving second-quarter earnings this week. Revenue was back in growth mode compared to last year's second quarter, and was above the company's prior guidance. That wasn't enough to boost the stock, though, as Opendoor is still losing money, and the meme stock surge hasn't fully deflated.</p>
<div class="lb-trans"><p>Opendoor 本周报告了第二季度业绩改善。与去年第二季度相比，收入恢复了增长模式，并且超过了公司之前的指引。然而，这并不足以推动股价上涨，因为 Opendoor 仍在亏损，meme 股票的激增尚未完全消退。</p>
</div><p>Once that occurs, though, things could be looking up for Opendoor's business. A soft jobs report last week has improved the chances for Federal Reserve interest rate cuts. Mortgage rates have already dropped because of it, too.</p>
<div class="lb-trans"><p>不过，一旦这种情况发生，Opendoor 的业务可能会迎来转机。上周的疲软就业报告提高了美联储降息的可能性。由于这一点，抵押贷款利率也已经下降。</p>
</div><p>For now, though, Opendoor says revenue will, in fact, decline sequentially in the third quarter. That might mean there's more downside in the near and medium term for Opendoor stock. Investors who rode the meme wave will likely continue to bail out.</p>
<div class="lb-trans"><p>不过，目前 Opendoor 表示，第三季度的收入实际上将环比下降。这可能意味着 Opendoor 股票在短期和中期内还有更多下行空间。乘坐 meme 浪潮的投资者可能会继续撤出。</p>
</div><p>Longer-term, a strong recovery in the housing market could help Opendoor reverse course with shares marching higher again. Though that probably won't be anytime soon.</p>
<div class="lb-trans"><p>从长远来看，房地产市场的强劲复苏可能会帮助 Opendoor 逆转局面，股价再次上涨。不过，这可能不会很快发生。</p>
</div>

Why Opendoor Technologies Stock Crashed This Week

- Opendoor Technologies 股价在 2025 年经历剧烈波动，前半段下跌 65%。  
- 七月股价飙升 245%，但本周又下跌近 20%。  
- 公司第二季度收入回升，但仍面临亏损，预计第三季度收入将下降。

为什么 Opendoor Technologies 的股票在本周暴跌