<p>说房地产科技公司 <strong>Opendoor</strong>(OPEN 3.52%) 最近表现强劲是轻描淡写。从七月初开始，Opendoor 的股票上涨了超过 700%，许多投资者相信它可能会更高。</p>
<p>这包括对冲基金经理 Eric Jackson，他对公司的看涨论点启动了这一上涨趋势。简而言之，Jackson 不仅认为 Opendoor 实际上是最后一家主要的 iBuyer，这给业务带来了优势，而且认为可以利用公司的交易数据开发人工智能（AI）驱动的房地产行业工具，潜力巨大。</p>
<p>Jackson 曾在 <strong>Carvana</strong> 股票接近历史低点时预测其 100 倍的涨幅，他表示 Opendoor 可能是他下一个大幅上涨的 100 倍股票。当时，Opendoor 的交易价格为 0.82 美元，这意味着目标价格为 82 美元。截至目前，股票交易价格约为 5 美元，因此他仍然期待未来有很大的上涨空间。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjYxMjcvc3RvY2stdHJhZGVycy0yMDI1LmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjYxMjcvc3RvY2stdHJhZGVycy0yMDI1LmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>这与利率有关</h2>
<p>首先，最大的潜在上涨催化剂（除了来自 “迷因股票” 活动的压力）将是降低利率。这可能产生影响的原因有几个：</p>
<ul>
<li>最重要的是，降低利率可能有助于解冻停滞的房地产市场。许多希望搬家的房主感到 “被困” 在自己的家中，因为他们不得不放弃低抵押贷款利率。许多潜在购房者发现，抵押贷款利率在 7% 左右时，房屋的可负担性远低于利率大幅下降时的水平。</li>
<li>Opendoor 借款来资助其运营，并在购买房屋的 “过渡” 时间内支付利息——即从收购房屋到出售房屋之间的时间。降低利率不仅会给房地产市场带来刺激，帮助减少平均持有期，还会使 Opendoor 在其资产负债表上持有房屋的成本降低。</li>
</ul>
<h2>合适的领导者可能会带来重大变化</h2>
<p>Opendoor 首席执行官 Carrie Wheeler 最近决定在 Jackson 和其他主要投资者（包括 Opendoor 的联合创始人 Keith Rabois）的压力下辞职。这一举动在投资者中受到广泛欢迎，但也留下了一个关于未来的重大问号。</p>
<p>Opendoor 任命公司的首席技术官 Shrisha Radhakrishna 为临时领导者，并正在寻找一位永久的首席执行官。</p>
<p>简而言之，如果 Opendoor 能够找到合适的人担任首席执行官，这可能会成为股票的重大上涨催化剂。一位具有远见的领导者，如果能与 Jackson 一样专注于利用 Opendoor 的数据能力，可能会让投资者更加兴奋。但如果任命的领导者无法激发投资者的热情，可能会产生相反的效果。</p>
<h2>雪球效应正在发挥作用</h2>
<p>最后，我们在 2021 年的投机热潮中看到，热门股票的价格可能会出现某种雪球效应。这可能有几种形式。</p>
<p>一种是潜在的空头挤压。在七月底，Opendoor 大约有 23% 的流通股被卖空。这并不在疫情期间 <strong>GameStop</strong> 的范围内，但空头头寸的水平较高。如果股票价格进一步上涨，可能会有一波投资者需要平仓，这可能会推动股票价格上涨。</p>
<p>正如投资者在著名的 GameStop 空头挤压中看到的，这可能会产生一种雪球效应，使股票价格大幅上涨。需要明确的是，这可能是一个短暂的催化剂。</p>
<p>另一种 “雪球效应” 的形式是公司在估值上升时筹集增长资本。可以这样考虑：Opendoor 可以发行新股或可转换票据，以比几个月前更少的稀释潜力来筹集资本。</p>
<p>许多 2020-2021 年期间表现最好的公司利用其估值筹集资金，如果 Opendoor 股票继续上涨，毫不奇怪它也会这样做。完全有可能 Opendoor 在每股 5 美元时筹集增长资本，投资者可能会对此表示欢呼，然后公司可能在 10 美元、15 美元等价格上筹集更多资金。</p>
<p>底线是，尽管 Opendoor 的急剧上涨幅度巨大，但这并不意味着股票不能进一步上涨，因为还有几个催化剂可能推动股票价格上涨。然而，无论 Opendoor 股票走向何方，目前都是一种高度投机的投资，可能会波动。请记住这一点来对待这只股票。</p>

OPEN

<p>Opendoor 的股票自七月以来已上涨超过 700%，对冲基金经理 Eric Jackson 预测其可能达到 82 美元。进一步增长的关键催化因素包括潜在的利率下降，这可能会振兴房地产市场并降低 Opendoor 的借贷成本。首席执行官 Carrie Wheeler 的最近辞职引发了对未来领导层的质疑，这可能会影响投资者情绪。此外，由于空头头寸高企，可能会出现空头挤压，进一步推动价格上涨。尽管其快速上涨，Opendoor 仍然是一项投机性投资，预计将面临波动</p>

<p>To say that real estate technology company <strong>Opendoor</strong>(OPEN 3.52%) has been a strong performer recently would be an understatement. Since the beginning of July, Opendoor stock has increased by more than 700%, and many investors believe it could go much higher.</p>
<div class="lb-trans"><p>说房地产科技公司 <strong>Opendoor</strong>(OPEN 3.52%) 最近表现强劲是轻描淡写。从七月初开始，Opendoor 的股票上涨了超过 700%，许多投资者相信它可能会更高。</p>
</div><p>That includes hedge fund manager Eric Jackson, whose bullish thesis on the company started the upside movement. In a nutshell, not only does Jackson believe that the fact that Opendoor is essentially the last major iBuyer standing gives the business an advantage, but also that there's massive potential to leverage the company's transaction data to develop artificial intelligence (AI)-powered tools for the real estate industry.</p>
<div class="lb-trans"><p>这包括对冲基金经理 Eric Jackson，他对公司的看涨论点启动了这一上涨趋势。简而言之，Jackson 不仅认为 Opendoor 实际上是最后一家主要的 iBuyer，这给业务带来了优势，而且认为可以利用公司的交易数据开发人工智能（AI）驱动的房地产行业工具，潜力巨大。</p>
</div><p>Jackson, who notably predicted <strong>Carvana</strong>'s 100x move when the stock was near an all-time low, said that Opendoor could be his next big 100x mover. At the time, Opendoor was trading for $0.82, so this implies a price target of $82. The stock trades for about $5 as of this writing, so he's still expecting a lot of future upside.</p>
<div class="lb-trans"><p>Jackson 曾在 <strong>Carvana</strong> 股票接近历史低点时预测其 100 倍的涨幅，他表示 Opendoor 可能是他下一个大幅上涨的 100 倍股票。当时，Opendoor 的交易价格为 0.82 美元，这意味着目标价格为 82 美元。截至目前，股票交易价格约为 5 美元，因此他仍然期待未来有很大的上涨空间。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjYxMjcvc3RvY2stdHJhZGVycy0yMDI1LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F826127%2Fstock-traders-2025.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>It's about interest rates</h2>
<div class="lb-trans"><h2>这与利率有关</h2>
</div><p>First and foremost, the biggest potential upside catalyst (aside from pressure that comes from &#34;meme stock&#34; activity) would be lower interest rates. And there are a couple of big reasons why this could have an impact:</p>
<div class="lb-trans"><p>首先，最大的潜在上涨催化剂（除了来自 “迷因股票” 活动的压力）将是降低利率。这可能产生影响的原因有几个：</p>
</div><ul>
<li>Most importantly, lower interest rates could help thaw a stagnant real estate market. Many homeowners who would love to move feel &#34;stuck&#34; in their homes because they'd have to give up their low mortgage rates. Many would-be homebuyers find homes far less affordable with mortgage rates in the 7% ballpark than they would be if rates were to drop significantly.</li>
<li>Opendoor borrows money to fund its operations and pays interest on the homes it buys in the &#34;in-between&#34; time -- that is, the time between acquiring the home and when it sells. Not only would lower rates give the real estate market a jolt and help reduce the average holding period, but they'd also make it cheaper for Opendoor to carry homes on its balance sheet.</li>
</ul>
<div class="lb-trans"><ul>
<li>最重要的是，降低利率可能有助于解冻停滞的房地产市场。许多希望搬家的房主感到 “被困” 在自己的家中，因为他们不得不放弃低抵押贷款利率。许多潜在购房者发现，抵押贷款利率在 7% 左右时，房屋的可负担性远低于利率大幅下降时的水平。</li>
<li>Opendoor 借款来资助其运营，并在购买房屋的 “过渡” 时间内支付利息——即从收购房屋到出售房屋之间的时间。降低利率不仅会给房地产市场带来刺激，帮助减少平均持有期，还会使 Opendoor 在其资产负债表上持有房屋的成本降低。</li>
</ul>
</div><h2>The right leader could make a big difference</h2>
<div class="lb-trans"><h2>合适的领导者可能会带来重大变化</h2>
</div><p>Opendoor CEO Carrie Wheeler recently decided to step down from her role after pressure from Jackson and other major investors, including Opendoor's co-founder Keith Rabois. This move was largely cheered by investors, but it also leaves a big question mark regarding what comes next.</p>
<div class="lb-trans"><p>Opendoor 首席执行官 Carrie Wheeler 最近决定在 Jackson 和其他主要投资者（包括 Opendoor 的联合创始人 Keith Rabois）的压力下辞职。这一举动在投资者中受到广泛欢迎，但也留下了一个关于未来的重大问号。</p>
</div><p>Opendoor named Shrisha Radhakrishna, the company's CTO, as the interim leader and is currently searching for a permanent CEO.</p>
<div class="lb-trans"><p>Opendoor 任命公司的首席技术官 Shrisha Radhakrishna 为临时领导者，并正在寻找一位永久的首席执行官。</p>
</div><p>In short, if Opendoor puts the right person in the CEO role, it could be a major upward catalyst for the stock. A visionary leader who shares Jackson's focus on leveraging Opendoor's data capabilities could serve to get investors even more excited. But appointing a leader who doesn't get investors excited could have the opposite effect.</p>
<div class="lb-trans"><p>简而言之，如果 Opendoor 能够找到合适的人担任首席执行官，这可能会成为股票的重大上涨催化剂。一位具有远见的领导者，如果能与 Jackson 一样专注于利用 Opendoor 的数据能力，可能会让投资者更加兴奋。但如果任命的领导者无法激发投资者的热情，可能会产生相反的效果。</p>
</div><h2>Snowball effects in play</h2>
<div class="lb-trans"><h2>雪球效应正在发挥作用</h2>
</div><p>Finally, and we saw this in many companies in the 2021 speculative boom, there can be somewhat of a snowball effect when it comes to prices of hot stocks. And this can take several forms.</p>
<div class="lb-trans"><p>最后，我们在 2021 年的投机热潮中看到，热门股票的价格可能会出现某种雪球效应。这可能有几种形式。</p>
</div><p>One is a potential short squeeze. In late July, Opendoor had about 23% of its float sold short. This isn't in pandemic-era <strong>GameStop</strong> territory but an elevated level of short interest. If the stock price starts to rise further, there could be a wave of investors who need to cover their short positions, which could push the stock higher.</p>
<div class="lb-trans"><p>一种是潜在的空头挤压。在七月底，Opendoor 大约有 23% 的流通股被卖空。这并不在疫情期间 <strong>GameStop</strong> 的范围内，但空头头寸的水平较高。如果股票价格进一步上涨，可能会有一波投资者需要平仓，这可能会推动股票价格上涨。</p>
</div><p>As investors saw with the famous GameStop short squeeze, this can create a snowball effect that pushes a stock <em>much</em> higher. To be perfectly clear, this would likely be a short-lived catalyst.</p>
<div class="lb-trans"><p>正如投资者在著名的 GameStop 空头挤压中看到的，这可能会产生一种雪球效应，使股票价格大幅上涨。需要明确的是，这可能是一个短暂的催化剂。</p>
</div><p>Another form of a &#34;snowball effect&#34; is companies that raise growth capital as their valuations increase. Think about it this way: Opendoor could issue new shares or convertible notes and raise capital with one-eighth the potential dilution of just a couple of months ago.</p>
<div class="lb-trans"><p>另一种 “雪球效应” 的形式是公司在估值上升时筹集增长资本。可以这样考虑：Opendoor 可以发行新股或可转换票据，以比几个月前更少的稀释潜力来筹集资本。</p>
</div><p>Many of the 2020-2021 era's highest-flying companies took advantage of their valuations to raise capital, and if Opendoor stock keeps rising, it wouldn't be surprising if it did this, too. It's entirely possible that Opendoor could raise growth capital at $5 per share, investors could cheer the move, and then the company could raise even more at $10, $15, and so on.</p>
<div class="lb-trans"><p>许多 2020-2021 年期间表现最好的公司利用其估值筹集资金，如果 Opendoor 股票继续上涨，毫不奇怪它也会这样做。完全有可能 Opendoor 在每股 5 美元时筹集增长资本，投资者可能会对此表示欢呼，然后公司可能在 10 美元、15 美元等价格上筹集更多资金。</p>
</div><p>The bottom line is that, although Opendoor's sharp upward move has been massive, it doesn't necessarily mean the stock can't go even higher as there are several catalysts that could push the stock higher from here. However, whichever direction Opendoor stock goes, it's a highly speculative investment at this point and likely to be volatile. Approach the stock with this in mind.</p>
<div class="lb-trans"><p>底线是，尽管 Opendoor 的急剧上涨幅度巨大，但这并不意味着股票不能进一步上涨，因为还有几个催化剂可能推动股票价格上涨。然而，无论 Opendoor 股票走向何方，目前都是一种高度投机的投资，可能会波动。请记住这一点来对待这只股票。</p>
</div>

可能推动 Opendoor 股票进一步飙升的三个催化剂