<p>房地產科技公司 <strong>Opendoor Technologies</strong>(OPEN -3.16%) 的股票在今年經歷了劇烈波動。2025 年上半年，股價穩步下滑，截至 6 月損失約 65%。但 7 月情況有所不同，股價飆升了 245%。</p>
<p>不過，Opendoor 的股票本週逆轉了走勢，最低時下跌近 20%。根據標準普爾全球市場情報提供的數據，截至週五早些時候，股價仍較本週下跌了 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>圖片來源：Getty Images。</p>
<h2>泡沫總會破裂</h2>
<p>關於 Opendoor 股票的近期故事，實際上並不是關於其基礎業務。2025 年早些時候，隨着公司在艱難的房地產市場中報告收入下降，股價開始下跌。Opendoor 引起了零售投資者和交易者的關注，他們在 7 月將其變成了一隻 meme 股票。</p>
<p>截至 7 月中旬，超過 21% 的流通股被空頭賣家持有。這一高空頭頭寸導致了空頭擠壓。但這個泡沫現在已經破裂，上個月 Opendoor 的市值峯值蒸發了 10 億美元。</p>
<h2>住房環境改善</h2>
<p>Opendoor 本週報告了第二季度業績改善。與去年第二季度相比，收入恢復了增長模式，並且超過了公司之前的指引。然而，這並不足以推動股價上漲，因為 Opendoor 仍在虧損，meme 股票的激增尚未完全消退。</p>
<p>不過，一旦這種情況發生，Opendoor 的業務可能會迎來轉機。上週的疲軟就業報告提高了美聯儲降息的可能性。由於這一點，抵押貸款利率也已經下降。</p>
<p>不過，目前 Opendoor 表示，第三季度的收入實際上將環比下降。這可能意味着 Opendoor 股票在短期和中期內還有更多下行空間。乘坐 meme 浪潮的投資者可能會繼續撤出。</p>
<p>從長遠來看，房地產市場的強勁復甦可能會幫助 Opendoor 逆轉局面，股價再次上漲。不過，這可能不會很快發生。</p>

OPEN

<p>Opendoor Technologies 的股票經歷了顯著的波動，本週下跌近 20%，而在 7 月份曾飆升 245%。此次下跌是由於房地產市場面臨挑戰以及令人失望的收入報告，儘管最近第二季度的收益有所改善。股票的高空頭頭寸導致了空頭擠壓，但泡沫已經破裂，市值損失達 10 億美元。儘管恢復的房地產市場和潛在的美聯儲降息可能在長期內對 Opendoor 有利，但短期前景仍然不確定，預計第三季度收入將下降</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>房地產科技公司 <strong>Opendoor Technologies</strong>(OPEN -3.16%) 的股票在今年經歷了劇烈波動。2025 年上半年，股價穩步下滑，截至 6 月損失約 65%。但 7 月情況有所不同，股價飆升了 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>不過，Opendoor 的股票本週逆轉了走勢，最低時下跌近 20%。根據標準普爾全球市場情報提供的數據，截至週五早些時候，股價仍較本週下跌了 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>圖片來源：Getty Images。</p>
</div><h2>Bubbles always burst</h2>
<div class="lb-trans"><h2>泡沫總會破裂</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>關於 Opendoor 股票的近期故事，實際上並不是關於其基礎業務。2025 年早些時候，隨着公司在艱難的房地產市場中報告收入下降，股價開始下跌。Opendoor 引起了零售投資者和交易者的關注，他們在 7 月將其變成了一隻 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，超過 21% 的流通股被空頭賣家持有。這一高空頭頭寸導致了空頭擠壓。但這個泡沫現在已經破裂，上個月 Opendoor 的市值峯值蒸發了 10 億美元。</p>
</div><h2>An improving housing environment</h2>
<div class="lb-trans"><h2>住房環境改善</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 本週報告了第二季度業績改善。與去年第二季度相比，收入恢復了增長模式，並且超過了公司之前的指引。然而，這並不足以推動股價上漲，因為 Opendoor 仍在虧損，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>不過，一旦這種情況發生，Opendoor 的業務可能會迎來轉機。上週的疲軟就業報告提高了美聯儲降息的可能性。由於這一點，抵押貸款利率也已經下降。</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>不過，目前 Opendoor 表示，第三季度的收入實際上將環比下降。這可能意味着 Opendoor 股票在短期和中期內還有更多下行空間。乘坐 meme 浪潮的投資者可能會繼續撤出。</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>從長遠來看，房地產市場的強勁復甦可能會幫助 Opendoor 逆轉局面，股價再次上漲。不過，這可能不會很快發生。</p>
</div>

Why Opendoor Technologies Stock Crashed This Week

- Opendoor Technologies 股價在 2025 年經歷劇烈波動，前半段下跌 65%。  
- 七月股價飆升 245%，但本週又下跌近 20%。  
- 公司第二季度收入回升，但仍面臨虧損，預計第三季度收入將下降。

為什麼 Opendoor Technologies 的股票在本週暴跌