<p><strong>Citron Research</strong>，由著名的空頭賣家 <strong>Andrew Left</strong> 領導，在週五的社交媒體帖子中針對 <strong>Opendoor Technologies, Inc.</strong> (NASDAQ: OPEN)。Opendoor 的投資者對這一攻擊不以為然，股價反而上漲。</p>
<ul>
<li><em>OPEN 股票再次上漲。</em> 查看實時圖表。</li>
</ul>
<p>Citron 將 Opendoor 稱為 &#34;股票促銷和燒錢的科學實驗&#34;，同時推廣其對 <strong>loanDepot, Inc.</strong>(NYSE: LDI) 的更為積極的看法。</p>
<p><strong>下一步閲讀：</strong> Joby 的 38% 股價暴跌很糟糕——但五角大樓可能會感興趣</p>
<p>Citron 繼續抨擊 Opendoor 的商業模式，表示：</p>
<p>&#34;OPEN 提供了多種虧損方式：</p>
<p>– 沒有利用人工智能來擴大利潤或維護市場份額的方式。</p>
<p>– 房地產利潤率低——1-2% 的波動就能抹去利潤。</p>
<p>– 資本密集——數十億資金被鎖定在庫存中，沒有轉售的保證。</p>
<p>– 競爭——Zillow 已經嘗試過並失敗了這種模式。</p>
<p>– 而且由於現金消耗，預計很快會出現大規模稀釋。</p>
<p>商業模式並沒有破裂……它從未奏效。&#34;</p>
<blockquote>
<p>Citron 將繼續向市場更新 $LDI 及其上漲的進程……但與此同時，讓我們迴歸根本。</p>
<p>與 $LDI 不同，後者被低估並提供了多種獲勝方式，$OPEN 只不過是一個股票促銷和燒錢的科學實驗。$OPEN…</p>
<p>— Citron Research (@CitronResearch) 2025 年 9 月 5 日</p>
</blockquote>
<p>Opendoor 的投資者在最初股價下跌時大多對這些評論不以為然，但很快反彈。</p>
<p>根據 Benzinga Pro 的數據，週五該股票上漲超過 8%，交易量非常大。由散户投資者主導的反彈使 Opendoor 股票在過去六個月上漲超過 420%。</p>
<p>在 Citron Research 週五的帖子發佈後，LoanDepot 的股票也隨之上漲，表示 市場 正在將 LDI 定價為 &#34; 破產的發起人&#34;，忽視了其有價值的抵押貸款服務部門。</p>
<p>該公司僅對該部門的估值為每股 5 美元，超過了該股票最近的交易價格的兩倍。</p>
<p><strong>OPEN 價格走勢：</strong> 根據 Benzinga Pro 的數據，Opendoor 股票在週五發佈時上漲 8.27%，報 6.45 美元。</p>
<p><strong>下一步閲讀：</strong></p>
<ul>
<li>尋找下一個 Opendoor？試試這 5 只 Eric Jackson 持有的股票</li>
</ul>
<p><em>照片來源：Shutterstock</em></p>

OPEN

<p>Opendoor Technologies, Inc.（納斯達克代碼：OPEN）遭到 Citron Research 的批評，該機構將其稱為 “股票促銷”，並對其商業模式表示不滿。儘管如此，Opendoor 的股票在交易量激增的情況下上漲超過 8%，反映出投資者的韌性。在過去六個月中，該股票上漲超過 420%。Citron 還指出 LoanDepot, Inc.（紐約證券交易所代碼：LDI）被低估，建議其抵押貸款服務部門的每股估值為 5 美元。發佈時，Opendoor 的股票交易價格為 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>，由著名的空頭賣家 <strong>Andrew Left</strong> 領導，在週五的社交媒體帖子中針對 <strong>Opendoor Technologies, Inc.</strong> (NASDAQ: OPEN)。Opendoor 的投資者對這一攻擊不以為然，股價反而上漲。</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 股票再次上漲。</em> 查看實時圖表。</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 將 Opendoor 稱為 &#34;股票促銷和燒錢的科學實驗&#34;，同時推廣其對 <strong>loanDepot, Inc.</strong>(NYSE: LDI) 的更為積極的看法。</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>下一步閲讀：</strong> Joby 的 38% 股價暴跌很糟糕——但五角大樓可能會感興趣</p>
</div><p>Citron continued bashing Opendoor's business model, saying:</p>
<div class="lb-trans"><p>Citron 繼續抨擊 Opendoor 的商業模式，表示：</p>
</div><p>&#34;OPEN offers many ways to lose:</p>
<div class="lb-trans"><p>&#34;OPEN 提供了多種虧損方式：</p>
</div><p>– No way to capitalize on AI to scale margins or defend share.</p>
<div class="lb-trans"><p>– 沒有利用人工智能來擴大利潤或維護市場份額的方式。</p>
</div><p>– Housing is low margin — a 1–2% swing wipes out profits.</p>
<div class="lb-trans"><p>– 房地產利潤率低——1-2% 的波動就能抹去利潤。</p>
</div><p>– Capital heavy — billions tied up in inventory with no guarantee of resale.</p>
<div class="lb-trans"><p>– 資本密集——數十億資金被鎖定在庫存中，沒有轉售的保證。</p>
</div><p>– Competition — Zillow already tried &amp; failed at this model.</p>
<div class="lb-trans"><p>– 競爭——Zillow 已經嘗試過並失敗了這種模式。</p>
</div><p>– And with its cash burn, expect massive dilution soon.</p>
<div class="lb-trans"><p>– 而且由於現金消耗，預計很快會出現大規模稀釋。</p>
</div><p>The business model is not broken….it has never worked.&#34;</p>
<div class="lb-trans"><p>商業模式並沒有破裂……它從未奏效。&#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 將繼續向市場更新 $LDI 及其上漲的進程……但與此同時，讓我們迴歸根本。</p>
<p>與 $LDI 不同，後者被低估並提供了多種獲勝方式，$OPEN 只不過是一個股票促銷和燒錢的科學實驗。$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 的投資者在最初股價下跌時大多對這些評論不以為然，但很快反彈。</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>根據 Benzinga Pro 的數據，週五該股票上漲超過 8%，交易量非常大。由散户投資者主導的反彈使 Opendoor 股票在過去六個月上漲超過 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 週五的帖子發佈後，LoanDepot 的股票也隨之上漲，表示 市場 正在將 LDI 定價為 &#34; 破產的發起人&#34;，忽視了其有價值的抵押貸款服務部門。</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>該公司僅對該部門的估值為每股 5 美元，超過了該股票最近的交易價格的兩倍。</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 價格走勢：</strong> 根據 Benzinga Pro 的數據，Opendoor 股票在週五發佈時上漲 8.27%，報 6.45 美元。</p>
</div><p><strong>Read Next:</strong></p>
<div class="lb-trans"><p><strong>下一步閲讀：</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>尋找下一個 Opendoor？試試這 5 只 Eric Jackson 持有的股票</li>
</ul>
</div><p><em>Photo: Shutterstock</em></p>
<div class="lb-trans"><p><em>照片來源：Shutterstock</em></p>
</div>

Opendoor 遭到空頭賣家的攻擊——然而股價依然上漲