<p>説房地產科技公司 <strong>Opendoor</strong>(OPEN 3.52%) 最近表現強勁是輕描淡寫。從七月初開始，Opendoor 的股票上漲了超過 700%，許多投資者相信它可能會更高。</p>
<p>這包括對沖基金經理 Eric Jackson，他對公司的看漲論點啓動了這一上漲趨勢。簡而言之，Jackson 不僅認為 Opendoor 實際上是最後一家主要的 iBuyer，這給業務帶來了優勢，而且認為可以利用公司的交易數據開發人工智能（AI）驅動的房地產行業工具，潛力巨大。</p>
<p>Jackson 曾在 <strong>Carvana</strong> 股票接近歷史低點時預測其 100 倍的漲幅，他表示 Opendoor 可能是他下一個大幅上漲的 100 倍股票。當時，Opendoor 的交易價格為 0.82 美元，這意味着目標價格為 82 美元。截至目前，股票交易價格約為 5 美元，因此他仍然期待未來有很大的上漲空間。</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>圖片來源：Getty Images。</p>
<h2>這與利率有關</h2>
<p>首先，最大的潛在上漲催化劑（除了來自 “迷因股票” 活動的壓力）將是降低利率。這可能產生影響的原因有幾個：</p>
<ul>
<li>最重要的是，降低利率可能有助於解凍停滯的房地產市場。許多希望搬家的房主感到 “被困” 在自己的家中，因為他們不得不放棄低抵押貸款利率。許多潛在購房者發現，抵押貸款利率在 7% 左右時，房屋的可負擔性遠低於利率大幅下降時的水平。</li>
<li>Opendoor 借款來資助其運營，並在購買房屋的 “過渡” 時間內支付利息——即從收購房屋到出售房屋之間的時間。降低利率不僅會給房地產市場帶來刺激，幫助減少平均持有期，還會使 Opendoor 在其資產負債表上持有房屋的成本降低。</li>
</ul>
<h2>合適的領導者可能會帶來重大變化</h2>
<p>Opendoor 首席執行官 Carrie Wheeler 最近決定在 Jackson 和其他主要投資者（包括 Opendoor 的聯合創始人 Keith Rabois）的壓力下辭職。這一舉動在投資者中受到廣泛歡迎，但也留下了一個關於未來的重大問號。</p>
<p>Opendoor 任命公司的首席技術官 Shrisha Radhakrishna 為臨時領導者，並正在尋找一位永久的首席執行官。</p>
<p>簡而言之，如果 Opendoor 能夠找到合適的人擔任首席執行官，這可能會成為股票的重大上漲催化劑。一位具有遠見的領導者，如果能與 Jackson 一樣專注於利用 Opendoor 的數據能力，可能會讓投資者更加興奮。但如果任命的領導者無法激發投資者的熱情，可能會產生相反的效果。</p>
<h2>雪球效應正在發揮作用</h2>
<p>最後，我們在 2021 年的投機熱潮中看到，熱門股票的價格可能會出現某種雪球效應。這可能有幾種形式。</p>
<p>一種是潛在的空頭擠壓。在七月底，Opendoor 大約有 23% 的流通股被賣空。這並不在疫情期間 <strong>GameStop</strong> 的範圍內，但空頭頭寸的水平較高。如果股票價格進一步上漲，可能會有一波投資者需要平倉，這可能會推動股票價格上漲。</p>
<p>正如投資者在著名的 GameStop 空頭擠壓中看到的，這可能會產生一種雪球效應，使股票價格大幅上漲。需要明確的是，這可能是一個短暫的催化劑。</p>
<p>另一種 “雪球效應” 的形式是公司在估值上升時籌集增長資本。可以這樣考慮：Opendoor 可以發行新股或可轉換票據，以比幾個月前更少的稀釋潛力來籌集資本。</p>
<p>許多 2020-2021 年期間表現最好的公司利用其估值籌集資金，如果 Opendoor 股票繼續上漲，毫不奇怪它也會這樣做。完全有可能 Opendoor 在每股 5 美元時籌集增長資本，投資者可能會對此表示歡呼，然後公司可能在 10 美元、15 美元等價格上籌集更多資金。</p>
<p>底線是，儘管 Opendoor 的急劇上漲幅度巨大，但這並不意味着股票不能進一步上漲，因為還有幾個催化劑可能推動股票價格上漲。然而，無論 Opendoor 股票走向何方，目前都是一種高度投機的投資，可能會波動。請記住這一點來對待這隻股票。</p>

OPEN

<p>Opendoor 的股票自七月以來已上漲超過 700%，對沖基金經理 Eric Jackson 預測其可能達到 82 美元。進一步增長的關鍵催化因素包括潛在的利率下降，這可能會振興房地產市場並降低 Opendoor 的借貸成本。首席執行官 Carrie Wheeler 的最近辭職引發了對未來領導層的質疑，這可能會影響投資者情緒。此外，由於空頭頭寸高企，可能會出現空頭擠壓，進一步推動價格上漲。儘管其快速上漲，Opendoor 仍然是一項投機性投資，預計將面臨波動</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>説房地產科技公司 <strong>Opendoor</strong>(OPEN 3.52%) 最近表現強勁是輕描淡寫。從七月初開始，Opendoor 的股票上漲了超過 700%，許多投資者相信它可能會更高。</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>這包括對沖基金經理 Eric Jackson，他對公司的看漲論點啓動了這一上漲趨勢。簡而言之，Jackson 不僅認為 Opendoor 實際上是最後一家主要的 iBuyer，這給業務帶來了優勢，而且認為可以利用公司的交易數據開發人工智能（AI）驅動的房地產行業工具，潛力巨大。</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> 股票接近歷史低點時預測其 100 倍的漲幅，他表示 Opendoor 可能是他下一個大幅上漲的 100 倍股票。當時，Opendoor 的交易價格為 0.82 美元，這意味着目標價格為 82 美元。截至目前，股票交易價格約為 5 美元，因此他仍然期待未來有很大的上漲空間。</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>圖片來源：Getty Images。</p>
</div><h2>It's about interest rates</h2>
<div class="lb-trans"><h2>這與利率有關</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，最大的潛在上漲催化劑（除了來自 “迷因股票” 活動的壓力）將是降低利率。這可能產生影響的原因有幾個：</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，降低利率可能有助於解凍停滯的房地產市場。許多希望搬家的房主感到 “被困” 在自己的家中，因為他們不得不放棄低抵押貸款利率。許多潛在購房者發現，抵押貸款利率在 7% 左右時，房屋的可負擔性遠低於利率大幅下降時的水平。</li>
<li>Opendoor 借款來資助其運營，並在購買房屋的 “過渡” 時間內支付利息——即從收購房屋到出售房屋之間的時間。降低利率不僅會給房地產市場帶來刺激，幫助減少平均持有期，還會使 Opendoor 在其資產負債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>合適的領導者可能會帶來重大變化</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 首席執行官 Carrie Wheeler 最近決定在 Jackson 和其他主要投資者（包括 Opendoor 的聯合創始人 Keith Rabois）的壓力下辭職。這一舉動在投資者中受到廣泛歡迎，但也留下了一個關於未來的重大問號。</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 任命公司的首席技術官 Shrisha Radhakrishna 為臨時領導者，並正在尋找一位永久的首席執行官。</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>簡而言之，如果 Opendoor 能夠找到合適的人擔任首席執行官，這可能會成為股票的重大上漲催化劑。一位具有遠見的領導者，如果能與 Jackson 一樣專注於利用 Opendoor 的數據能力，可能會讓投資者更加興奮。但如果任命的領導者無法激發投資者的熱情，可能會產生相反的效果。</p>
</div><h2>Snowball effects in play</h2>
<div class="lb-trans"><h2>雪球效應正在發揮作用</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>最後，我們在 2021 年的投機熱潮中看到，熱門股票的價格可能會出現某種雪球效應。這可能有幾種形式。</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>一種是潛在的空頭擠壓。在七月底，Opendoor 大約有 23% 的流通股被賣空。這並不在疫情期間 <strong>GameStop</strong> 的範圍內，但空頭頭寸的水平較高。如果股票價格進一步上漲，可能會有一波投資者需要平倉，這可能會推動股票價格上漲。</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>正如投資者在著名的 GameStop 空頭擠壓中看到的，這可能會產生一種雪球效應，使股票價格大幅上漲。需要明確的是，這可能是一個短暫的催化劑。</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>另一種 “雪球效應” 的形式是公司在估值上升時籌集增長資本。可以這樣考慮：Opendoor 可以發行新股或可轉換票據，以比幾個月前更少的稀釋潛力來籌集資本。</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>許多 2020-2021 年期間表現最好的公司利用其估值籌集資金，如果 Opendoor 股票繼續上漲，毫不奇怪它也會這樣做。完全有可能 Opendoor 在每股 5 美元時籌集增長資本，投資者可能會對此表示歡呼，然後公司可能在 10 美元、15 美元等價格上籌集更多資金。</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>底線是，儘管 Opendoor 的急劇上漲幅度巨大，但這並不意味着股票不能進一步上漲，因為還有幾個催化劑可能推動股票價格上漲。然而，無論 Opendoor 股票走向何方，目前都是一種高度投機的投資，可能會波動。請記住這一點來對待這隻股票。</p>
</div>

可能推動 Opendoor 股票進一步飆升的三個催化劑