<p><strong>Citron Research</strong>，由著名的空头卖家 <strong>Andrew Left</strong> 领导，在周五的社交媒体帖子中针对 <strong>Opendoor Technologies, Inc.</strong> (NASDAQ: OPEN)。Opendoor 的投资者对这一攻击不以为然，股价反而上涨。</p>
<ul>
<li><em>OPEN 股票再次上涨。</em> 查看实时图表。</li>
</ul>
<p>Citron 将 Opendoor 称为 &#34;股票促销和烧钱的科学实验&#34;，同时推广其对 <strong>loanDepot, Inc.</strong>(NYSE: LDI) 的更为积极的看法。</p>
<p><strong>下一步阅读：</strong> Joby 的 38% 股价暴跌很糟糕——但五角大楼可能会感兴趣</p>
<p>Citron 继续抨击 Opendoor 的商业模式，表示：</p>
<p>&#34;OPEN 提供了多种亏损方式：</p>
<p>– 没有利用人工智能来扩大利润或维护市场份额的方式。</p>
<p>– 房地产利润率低——1-2% 的波动就能抹去利润。</p>
<p>– 资本密集——数十亿资金被锁定在库存中，没有转售的保证。</p>
<p>– 竞争——Zillow 已经尝试过并失败了这种模式。</p>
<p>– 而且由于现金消耗，预计很快会出现大规模稀释。</p>
<p>商业模式并没有破裂……它从未奏效。&#34;</p>
<blockquote>
<p>Citron 将继续向市场更新 $LDI 及其上涨的进程……但与此同时，让我们回归根本。</p>
<p>与 $LDI 不同，后者被低估并提供了多种获胜方式，$OPEN 只不过是一个股票促销和烧钱的科学实验。$OPEN…</p>
<p>— Citron Research (@CitronResearch) 2025 年 9 月 5 日</p>
</blockquote>
<p>Opendoor 的投资者在最初股价下跌时大多对这些评论不以为然，但很快反弹。</p>
<p>根据 Benzinga Pro 的数据，周五该股票上涨超过 8%，交易量非常大。由散户投资者主导的反弹使 Opendoor 股票在过去六个月上涨超过 420%。</p>
<p>在 Citron Research 周五的帖子发布后，LoanDepot 的股票也随之上涨，表示 市场 正在将 LDI 定价为 &#34; 破产的发起人&#34;，忽视了其有价值的抵押贷款服务部门。</p>
<p>该公司仅对该部门的估值为每股 5 美元，超过了该股票最近的交易价格的两倍。</p>
<p><strong>OPEN 价格走势：</strong> 根据 Benzinga Pro 的数据，Opendoor 股票在周五发布时上涨 8.27%，报 6.45 美元。</p>
<p><strong>下一步阅读：</strong></p>
<ul>
<li>寻找下一个 Opendoor？试试这 5 只 Eric Jackson 持有的股票</li>
</ul>
<p><em>照片来源：Shutterstock</em></p>

OPEN

<p>Opendoor Technologies, Inc.（纳斯达克代码：OPEN）遭到 Citron Research 的批评，该机构将其称为 “股票促销”，并对其商业模式表示不满。尽管如此，Opendoor 的股票在交易量激增的情况下上涨超过 8%，反映出投资者的韧性。在过去六个月中，该股票上涨超过 420%。Citron 还指出 LoanDepot, Inc.（纽约证券交易所代码：LDI）被低估，建议其抵押贷款服务部门的每股估值为 5 美元。发布时，Opendoor 的股票交易价格为 6.45 美元</p>

<p><strong>Citron Research</strong>, led by famed short-seller Andrew Left, targeted <strong>Opendoor Technologies, Inc.</strong> (NASDAQ: OPEN) in a social media post on Friday. Opendoor investors shrugged off the attack, and the stock climbed.</p>
<div class="lb-trans"><p><strong>Citron Research</strong>，由著名的空头卖家 <strong>Andrew Left</strong> 领导，在周五的社交媒体帖子中针对 <strong>Opendoor Technologies, Inc.</strong> (NASDAQ: OPEN)。Opendoor 的投资者对这一攻击不以为然，股价反而上涨。</p>
</div><ul>
<li><em>OPEN stock is running again.</em> See the real-time chart here.</li>
</ul>
<div class="lb-trans"><ul>
<li><em>OPEN 股票再次上涨。</em> 查看实时图表。</li>
</ul>
</div><p>Citron called Opendoor a &#34;stock promo and a science project in how to burn money&#34; while promoting its more favorable view on <strong>loanDepot, Inc.</strong>(NYSE: LDI).</p>
<div class="lb-trans"><p>Citron 将 Opendoor 称为 &#34;股票促销和烧钱的科学实验&#34;，同时推广其对 <strong>loanDepot, Inc.</strong>(NYSE: LDI) 的更为积极的看法。</p>
</div><p><strong>Read Next:</strong> Joby’s 38% Stock Plunge Is Ugly—But The Pentagon Might Be Interested</p>
<div class="lb-trans"><p><strong>下一步阅读：</strong> Joby 的 38% 股价暴跌很糟糕——但五角大楼可能会感兴趣</p>
</div><p>Citron continued bashing Opendoor's business model, saying:</p>
<div class="lb-trans"><p>Citron 继续抨击 Opendoor 的商业模式，表示：</p>
</div><p>&#34;OPEN offers many ways to lose:</p>
<div class="lb-trans"><p>&#34;OPEN 提供了多种亏损方式：</p>
</div><p>– No way to capitalize on AI to scale margins or defend share.</p>
<div class="lb-trans"><p>– 没有利用人工智能来扩大利润或维护市场份额的方式。</p>
</div><p>– Housing is low margin — a 1–2% swing wipes out profits.</p>
<div class="lb-trans"><p>– 房地产利润率低——1-2% 的波动就能抹去利润。</p>
</div><p>– Capital heavy — billions tied up in inventory with no guarantee of resale.</p>
<div class="lb-trans"><p>– 资本密集——数十亿资金被锁定在库存中，没有转售的保证。</p>
</div><p>– Competition — Zillow already tried &amp; failed at this model.</p>
<div class="lb-trans"><p>– 竞争——Zillow 已经尝试过并失败了这种模式。</p>
</div><p>– And with its cash burn, expect massive dilution soon.</p>
<div class="lb-trans"><p>– 而且由于现金消耗，预计很快会出现大规模稀释。</p>
</div><p>The business model is not broken….it has never worked.&#34;</p>
<div class="lb-trans"><p>商业模式并没有破裂……它从未奏效。&#34;</p>
</div><blockquote>
<p>Citron will continue to update the market on $LDI and its march higher….but in the meantime let's go back to the roots.</p>
<p>Unlike $LDI, which is undervalued and offers many ways to win, $OPEN is nothing more than a stock promo and a science project in how to burn money. $OPEN…</p>
<p>— Citron Research (@CitronResearch) September 5, 2025</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>Citron 将继续向市场更新 $LDI 及其上涨的进程……但与此同时，让我们回归根本。</p>
<p>与 $LDI 不同，后者被低估并提供了多种获胜方式，$OPEN 只不过是一个股票促销和烧钱的科学实验。$OPEN…</p>
<p>— Citron Research (@CitronResearch) 2025 年 9 月 5 日</p>
</blockquote>
</div><p>Opendoor investors largely brushed off the comments as OPEN shares dipped initially, but rebounded quickly.</p>
<div class="lb-trans"><p>Opendoor 的投资者在最初股价下跌时大多对这些评论不以为然，但很快反弹。</p>
</div><p>The stock was up by more than 8% on very heavy trading volume Friday, according to data from Benzinga Pro. The retail investor-led rally has driven Opendoor stock up by more than 420% over the past six months.</p>
<div class="lb-trans"><p>根据 Benzinga Pro 的数据，周五该股票上涨超过 8%，交易量非常大。由散户投资者主导的反弹使 Opendoor 股票在过去六个月上涨超过 420%。</p>
</div><p>LoanDepot shares also rallied following Friday's posts from Citron Research stating the market is pricing LDI like a &#34; busted originator,&#34; ignoring its valuable mortgage servicing division.</p>
<div class="lb-trans"><p>在 Citron Research 周五的帖子发布后，LoanDepot 的股票也随之上涨，表示 市场 正在将 LDI 定价为 &#34; 破产的发起人&#34;，忽视了其有价值的抵押贷款服务部门。</p>
</div><p>The firm placed a $5 per share valuation on that division alone, more than double the stock's recent trading price.</p>
<div class="lb-trans"><p>该公司仅对该部门的估值为每股 5 美元，超过了该股票最近的交易价格的两倍。</p>
</div><p><strong>OPEN Price Action:</strong> According to data from Benzinga Pro, Opendoor shares were up 8.27% at $6.45 at the time of publication Friday.</p>
<div class="lb-trans"><p><strong>OPEN 价格走势：</strong> 根据 Benzinga Pro 的数据，Opendoor 股票在周五发布时上涨 8.27%，报 6.45 美元。</p>
</div><p><strong>Read Next:</strong></p>
<div class="lb-trans"><p><strong>下一步阅读：</strong></p>
</div><ul>
<li>Looking For The Next Opendoor? Try These 5 Stocks Eric Jackson Holds</li>
</ul>
<div class="lb-trans"><ul>
<li>寻找下一个 Opendoor？试试这 5 只 Eric Jackson 持有的股票</li>
</ul>
</div><p><em>Photo: Shutterstock</em></p>
<div class="lb-trans"><p><em>照片来源：Shutterstock</em></p>
</div>

Opendoor 遭到空头卖家的攻击——然而股价依然上涨