<p><strong>Opendoor Technologies</strong>（OPEN -15.15%）是今年市场上表现最好的股票之一，至今上涨了惊人的 500%。最近，它暂时停止了强劲的上涨势头，显示出投资者可能对其估值变得更加谨慎，或者只是兑现了一些可观的利润。</p>
<p>但如果未来几个月利率继续下降，这会导致另一次大幅上涨吗？</p>
<p>以下是对未来利率可能发生的情况的分析，以及进一步降低利率可能对 Opendoor 股票产生的影响。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQwOTQvaW52ZXN0b3ItYXQtaG9tZS1sb29raW5nLWF0LW11bHRpcGxlLWNoYXJ0cy5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQwOTQvaW52ZXN0b3ItYXQtaG9tZS1sb29raW5nLWF0LW11bHRpcGxlLWNoYXJ0cy5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>为什么降息可能对 Opendoor 的股票是好消息</h2>
<p>上周，美联储宣布了几个月以来的首次降息。这并不令人意外，因为最近的经济数据表现平平，降息的支持声越来越高。而且，未来可能会有更多的降息。</p>
<p>根据 CME FedWatch 工具，预计美联储在 10 月份降息的概率为 92%，12 月份再次降息的概率约为 80%，这将把目标利率推至 3.50% 至 3.75% 之间，预计在年底前实现。</p>
<p>对于像 Opendoor 这样的投机性 meme 股票，利率下降可以成为多个原因的积极催化剂。</p>
<p>首先，较低的利率使借款成本降低，这对寻求增长并且现金流紧张的企业来说尤为重要。因此，这使得股票的风险降低。</p>
<p>其次，低利率可以吸引投资者更多地关注股票，而不是其他收益较低的投资。零售投资者预期这种趋势可能会在 meme 股票如 Opendoor 中增加更大的持仓。</p>
<p>但这并不意味着投资者应该忽视公司的糟糕基本面。</p>
<h2>为什么较低的利率可能不足以帮助 Opendoor 扭转业务</h2>
<p>较低的利率可能会导致房地产市场的更多购买。如果获得抵押贷款变得更容易，这可能会为 Opendoor 带来更多业务，因为其 iBuying 策略意味着它在买卖房产，希望以盈利的方式转手。</p>
<p>但仍然有几个问题需要考虑。首先，虽然利率可能较低，但这不一定会导致需求大幅上升。虽然抵押贷款利率较低，但如果由于关税和严峻的宏观经济条件，食品成本和其他开支显著上升，购房仍然可能不那么负担得起。</p>
<p>此外，承担抵押贷款是一项长期承诺，而在经济不确定性和对失业的担忧如此严重的情况下，较低的利率并不意味着住房市场会显著改善。</p>
<p>其次，更重要的是，Opendoor 的交易量增加并不保证公司的底线会有显著改善。Opendoor 的毛利率极低。今年上半年，其毛利润仅为 2.27 亿美元，收入为 27 亿美元。以仅 8% 的毛利率计算，这意味着每 1 美元的收入中有 0.92 美元用于覆盖公司的销售成本。剩下的部分必须覆盖其开销，包括销售和市场营销、一般管理和技术成本。不出所料，该公司仍处于亏损状态，过去两个季度的净亏损总额达到 1.14 亿美元。</p>
<h2>降息并不是投资 Opendoor 股票的理由</h2>
<p>Opendoor 的股票在美联储上周降息后并没有上涨，但这也是因为这一举措是广泛预期的。但如果长期来看，利率继续下降，这可能会促使零售投资者在 Opendoor 的持仓上更加大胆，从而引发更大的上涨。</p>
<p>虽然这可能是一个诱人的理由来对该股票进行_投机_，但考虑到其糟糕的利润率和缺乏盈利能力，长期来看并没有充分的理由去_投资_该公司。在业务大幅削减成本并改善底线之前，您可能最好避免该股票。</p>

OPEN

<p>Opendoor Technologies (OPEN) 今年上涨了 500%，但现在面临投资者的谨慎。最近美联储的降息可能进一步推动其股票上涨，因为较低的利率使借贷成本降低，可能吸引更多的散户投资者。然而，挑战依然存在，包括公司低毛利率和持续亏损。虽然降息可能刺激房地产市场，但并不保证 Opendoor 的财务表现会改善。投资者被建议保持谨慎，因为公司的基本面并不支持长期投资，尽管降息可能带来短期收益</p>

<p><strong>Opendoor Technologies</strong>(OPEN -15.15%) has been one of the top-performing stocks on the market this year, rising by a staggering 500% thus far. Recently, it has taken a break from its high-powered rally and is showing signs that investors are perhaps growing a bit more cautious about its valuation, or simply cashing out some sizable profits.</p>
<div class="lb-trans"><p><strong>Opendoor Technologies</strong>（OPEN -15.15%）是今年市场上表现最好的股票之一，至今上涨了惊人的 500%。最近，它暂时停止了强劲的上涨势头，显示出投资者可能对其估值变得更加谨慎，或者只是兑现了一些可观的利润。</p>
</div><p>But if interest rates continue trending lower in the months ahead, could that lead to another big rally?</p>
<div class="lb-trans"><p>但如果未来几个月利率继续下降，这会导致另一次大幅上涨吗？</p>
</div><p>Here's a look at what could happen with interest rates in the near future, and what effect further reductions may have on Opendoor's stock.</p>
<div class="lb-trans"><p>以下是对未来利率可能发生的情况的分析，以及进一步降低利率可能对 Opendoor 股票产生的影响。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQwOTQvaW52ZXN0b3ItYXQtaG9tZS1sb29raW5nLWF0LW11bHRpcGxlLWNoYXJ0cy5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F834094%2Finvestor-at-home-looking-at-multiple-charts.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>Why rate cuts may be good news for Opendoor's stock</h2>
<div class="lb-trans"><h2>为什么降息可能对 Opendoor 的股票是好消息</h2>
</div><p>Last week, the Federal Reserve announced interest rate cuts for the first time in months. It wasn't a big surprise, as recent economic data has been underwhelming and there was growing support for a reduction in interest rates. And there's a possibility that more rate cuts could be on the horizon.</p>
<div class="lb-trans"><p>上周，美联储宣布了几个月以来的首次降息。这并不令人意外，因为最近的经济数据表现平平，降息的支持声越来越高。而且，未来可能会有更多的降息。</p>
</div><p>According to the CME FedWatch tool, there's a 92% probability that the Fed will cut rates in October, and a roughly 80% chance that they will be cut again in December, pushing the target rate to between 3.50% and 3.75% before the end of the year.</p>
<div class="lb-trans"><p>根据 CME FedWatch 工具，预计美联储在 10 月份降息的概率为 92%，12 月份再次降息的概率约为 80%，这将把目标利率推至 3.50% 至 3.75% 之间，预计在年底前实现。</p>
</div><p>For speculative meme stocks like Opendoor, declining interest rates can be a positive catalyst for multiple reasons.</p>
<div class="lb-trans"><p>对于像 Opendoor 这样的投机性 meme 股票，利率下降可以成为多个原因的积极催化剂。</p>
</div><p>The first is that at lower interest rates, it becomes cheaper to borrow money, which can be significant for a business that's looking to grow and also burning through cash. Thus, it makes stocks less risky.</p>
<div class="lb-trans"><p>首先，较低的利率使借款成本降低，这对寻求增长并且现金流紧张的企业来说尤为重要。因此，这使得股票的风险降低。</p>
</div><p>Secondly, low interest rates can entice investors to focus more on stocks rather than other investments that provide lower yields. Retail investors anticipating such trends may end up taking on greater positions in meme stocks like Opendoor.</p>
<div class="lb-trans"><p>其次，低利率可以吸引投资者更多地关注股票，而不是其他收益较低的投资。零售投资者预期这种趋势可能会在 meme 股票如 Opendoor 中增加更大的持仓。</p>
</div><p>But that doesn't mean that investors should ignore the company's poor fundamentals.</p>
<div class="lb-trans"><p>但这并不意味着投资者应该忽视公司的糟糕基本面。</p>
</div><h2>Why lower interest rates may not be enough to help turn Opendoor's business around</h2>
<div class="lb-trans"><h2>为什么较低的利率可能不足以帮助 Opendoor 扭转业务</h2>
</div><p>Lower interest rates could result in more buying in the real estate market. If it's easier to obtain a mortgage, that can lead to greater business for Opendoor, whose iBuying strategy means it's buying and selling properties, hoping to flip them at a profit.</p>
<div class="lb-trans"><p>较低的利率可能会导致房地产市场的更多购买。如果获得抵押贷款变得更容易，这可能会为 Opendoor 带来更多业务，因为其 iBuying 策略意味着它在买卖房产，希望以盈利的方式转手。</p>
</div><p>But there are still a couple of problems to consider. The first is that while interest rates may be lower, that may not necessarily result in a huge uptick in demand. While a mortgage may be lower, if food costs and other expenses have risen significantly due to tariffs and challenging macroeconomic conditions, buying a house may still not be all that affordable.</p>
<div class="lb-trans"><p>但仍然有几个问题需要考虑。首先，虽然利率可能较低，但这不一定会导致需求大幅上升。虽然抵押贷款利率较低，但如果由于关税和严峻的宏观经济条件，食品成本和其他开支显著上升，购房仍然可能不那么负担得起。</p>
</div><p>Plus, taking on a mortgage is a big long-term commitment, and at a time when there is so much uncertainty in the economy and concern about job losses, it's by no means a guarantee that lower interest rates will result in a significantly stronger housing market.</p>
<div class="lb-trans"><p>此外，承担抵押贷款是一项长期承诺，而在经济不确定性和对失业的担忧如此严重的情况下，较低的利率并不意味着住房市场会显著改善。</p>
</div><p>Secondly, and more importantly, is that more volume for Opendoor doesn't guarantee the company's bottom line will be in far better shape. Opendoor generates a shockingly low gross profit margin. Through the first half of this year, its gross profit totaled just $227 million on revenue of $2.7 billion. At a rate of only 8%, that means that of every $1 in revenue, $0.92 are going to cover the company's cost of sales. What's left over has to cover its overhead, including sales and marketing, general admin, and tech costs. Unsurprisingly, the company remains unprofitable, with its net loss over the past two quarters totaling $114 million.</p>
<div class="lb-trans"><p>其次，更重要的是，Opendoor 的交易量增加并不保证公司的底线会有显著改善。Opendoor 的毛利率极低。今年上半年，其毛利润仅为 2.27 亿美元，收入为 27 亿美元。以仅 8% 的毛利率计算，这意味着每 1 美元的收入中有 0.92 美元用于覆盖公司的销售成本。剩下的部分必须覆盖其开销，包括销售和市场营销、一般管理和技术成本。不出所料，该公司仍处于亏损状态，过去两个季度的净亏损总额达到 1.14 亿美元。</p>
</div><h2>Rate cuts aren't a reason to invest in Opendoor's stock</h2>
<div class="lb-trans"><h2>降息并不是投资 Opendoor 股票的理由</h2>
</div><p>Opendoor's stock didn't take off after the Fed cut rates last week, but that's also because it was a widely expected move. But if the longer-term view is that interest rates will continue going lower, that could entice retail investors to be bolder with their positions in Opendoor, prompting a greater rally.</p>
<div class="lb-trans"><p>Opendoor 的股票在美联储上周降息后并没有上涨，但这也是因为这一举措是广泛预期的。但如果长期来看，利率继续下降，这可能会促使零售投资者在 Opendoor 的持仓上更加大胆，从而引发更大的上涨。</p>
</div><p>While that may be a tempting reason to <em>speculate</em> on the stock, there isn't a solid reason to <em>invest</em> in the company for the long term, given its poor margins and lack of profitability. Until the business drastically cuts costs and can improve upon its bottom line, you'll likely be better off avoiding the stock.</p>
<div class="lb-trans"><p>虽然这可能是一个诱人的理由来对该股票进行_投机_，但考虑到其糟糕的利润率和缺乏盈利能力，长期来看并没有充分的理由去_投资_该公司。在业务大幅削减成本并改善底线之前，您可能最好避免该股票。</p>
</div>

Could Rate Cuts Help Send Opendoor's Stock Soaring?

- Opendoor Technologies 股价今年上涨 500%，近期投资者变得谨慎。  
- 美联储宣布降息，可能刺激房地产市场，但公司基本面仍然薄弱。  
- 降息未必能改善 Opendoor 的盈利能力，投资需谨慎。  

降息是否能推动 Opendoor 的股票大幅上涨？