<p><strong>Opendoor Technologies</strong>（OPEN -15.15%）是今年市場上表現最好的股票之一，至今上漲了驚人的 500%。最近，它暫時停止了強勁的上漲勢頭，顯示出投資者可能對其估值變得更加謹慎，或者只是兑現了一些可觀的利潤。</p>
<p>但如果未來幾個月利率繼續下降，這會導致另一次大幅上漲嗎？</p>
<p>以下是對未來利率可能發生的情況的分析，以及進一步降低利率可能對 Opendoor 股票產生的影響。</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>圖片來源：Getty Images。</p>
<h2>為什麼降息可能對 Opendoor 的股票是好消息</h2>
<p>上週，美聯儲宣佈了幾個月以來的首次降息。這並不令人意外，因為最近的經濟數據表現平平，降息的支持聲越來越高。而且，未來可能會有更多的降息。</p>
<p>根據 CME FedWatch 工具，預計美聯儲在 10 月份降息的概率為 92%，12 月份再次降息的概率約為 80%，這將把目標利率推至 3.50% 至 3.75% 之間，預計在年底前實現。</p>
<p>對於像 Opendoor 這樣的投機性 meme 股票，利率下降可以成為多個原因的積極催化劑。</p>
<p>首先，較低的利率使借款成本降低，這對尋求增長並且現金流緊張的企業來説尤為重要。因此，這使得股票的風險降低。</p>
<p>其次，低利率可以吸引投資者更多地關注股票，而不是其他收益較低的投資。零售投資者預期這種趨勢可能會在 meme 股票如 Opendoor 中增加更大的持倉。</p>
<p>但這並不意味着投資者應該忽視公司的糟糕基本面。</p>
<h2>為什麼較低的利率可能不足以幫助 Opendoor 扭轉業務</h2>
<p>較低的利率可能會導致房地產市場的更多購買。如果獲得抵押貸款變得更容易，這可能會為 Opendoor 帶來更多業務，因為其 iBuying 策略意味着它在買賣房產，希望以盈利的方式轉手。</p>
<p>但仍然有幾個問題需要考慮。首先，雖然利率可能較低，但這不一定會導致需求大幅上升。雖然抵押貸款利率較低，但如果由於關税和嚴峻的宏觀經濟條件，食品成本和其他開支顯著上升，購房仍然可能不那麼負擔得起。</p>
<p>此外，承擔抵押貸款是一項長期承諾，而在經濟不確定性和對失業的擔憂如此嚴重的情況下，較低的利率並不意味着住房市場會顯著改善。</p>
<p>其次，更重要的是，Opendoor 的交易量增加並不保證公司的底線會有顯著改善。Opendoor 的毛利率極低。今年上半年，其毛利潤僅為 2.27 億美元，收入為 27 億美元。以僅 8% 的毛利率計算，這意味着每 1 美元的收入中有 0.92 美元用於覆蓋公司的銷售成本。剩下的部分必須覆蓋其開銷，包括銷售和市場營銷、一般管理和技術成本。不出所料，該公司仍處於虧損狀態，過去兩個季度的淨虧損總額達到 1.14 億美元。</p>
<h2>降息並不是投資 Opendoor 股票的理由</h2>
<p>Opendoor 的股票在美聯儲上週降息後並沒有上漲，但這也是因為這一舉措是廣泛預期的。但如果長期來看，利率繼續下降，這可能會促使零售投資者在 Opendoor 的持倉上更加大膽，從而引發更大的上漲。</p>
<p>雖然這可能是一個誘人的理由來對該股票進行_投機_，但考慮到其糟糕的利潤率和缺乏盈利能力，長期來看並沒有充分的理由去_投資_該公司。在業務大幅削減成本並改善底線之前，您可能最好避免該股票。</p>

OPEN

<p>Opendoor Technologies (OPEN) 今年上漲了 500%，但現在面臨投資者的謹慎。最近美聯儲的降息可能進一步推動其股票上漲，因為較低的利率使借貸成本降低，可能吸引更多的散户投資者。然而，挑戰依然存在，包括公司低毛利率和持續虧損。雖然降息可能刺激房地產市場，但並不保證 Opendoor 的財務表現會改善。投資者被建議保持謹慎，因為公司的基本面並不支持長期投資，儘管降息可能帶來短期收益</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%）是今年市場上表現最好的股票之一，至今上漲了驚人的 500%。最近，它暫時停止了強勁的上漲勢頭，顯示出投資者可能對其估值變得更加謹慎，或者只是兑現了一些可觀的利潤。</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>但如果未來幾個月利率繼續下降，這會導致另一次大幅上漲嗎？</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>以下是對未來利率可能發生的情況的分析，以及進一步降低利率可能對 Opendoor 股票產生的影響。</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>圖片來源：Getty Images。</p>
</div><h2>Why rate cuts may be good news for Opendoor's stock</h2>
<div class="lb-trans"><h2>為什麼降息可能對 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>上週，美聯儲宣佈了幾個月以來的首次降息。這並不令人意外，因為最近的經濟數據表現平平，降息的支持聲越來越高。而且，未來可能會有更多的降息。</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>根據 CME FedWatch 工具，預計美聯儲在 10 月份降息的概率為 92%，12 月份再次降息的概率約為 80%，這將把目標利率推至 3.50% 至 3.75% 之間，預計在年底前實現。</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>對於像 Opendoor 這樣的投機性 meme 股票，利率下降可以成為多個原因的積極催化劑。</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，較低的利率使借款成本降低，這對尋求增長並且現金流緊張的企業來説尤為重要。因此，這使得股票的風險降低。</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，低利率可以吸引投資者更多地關注股票，而不是其他收益較低的投資。零售投資者預期這種趨勢可能會在 meme 股票如 Opendoor 中增加更大的持倉。</p>
</div><p>But that doesn't mean that investors should ignore the company's poor fundamentals.</p>
<div class="lb-trans"><p>但這並不意味着投資者應該忽視公司的糟糕基本面。</p>
</div><h2>Why lower interest rates may not be enough to help turn Opendoor's business around</h2>
<div class="lb-trans"><h2>為什麼較低的利率可能不足以幫助 Opendoor 扭轉業務</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>較低的利率可能會導致房地產市場的更多購買。如果獲得抵押貸款變得更容易，這可能會為 Opendoor 帶來更多業務，因為其 iBuying 策略意味着它在買賣房產，希望以盈利的方式轉手。</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>但仍然有幾個問題需要考慮。首先，雖然利率可能較低，但這不一定會導致需求大幅上升。雖然抵押貸款利率較低，但如果由於關税和嚴峻的宏觀經濟條件，食品成本和其他開支顯著上升，購房仍然可能不那麼負擔得起。</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，承擔抵押貸款是一項長期承諾，而在經濟不確定性和對失業的擔憂如此嚴重的情況下，較低的利率並不意味着住房市場會顯著改善。</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 的交易量增加並不保證公司的底線會有顯著改善。Opendoor 的毛利率極低。今年上半年，其毛利潤僅為 2.27 億美元，收入為 27 億美元。以僅 8% 的毛利率計算，這意味着每 1 美元的收入中有 0.92 美元用於覆蓋公司的銷售成本。剩下的部分必須覆蓋其開銷，包括銷售和市場營銷、一般管理和技術成本。不出所料，該公司仍處於虧損狀態，過去兩個季度的淨虧損總額達到 1.14 億美元。</p>
</div><h2>Rate cuts aren't a reason to invest in Opendoor's stock</h2>
<div class="lb-trans"><h2>降息並不是投資 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 的股票在美聯儲上週降息後並沒有上漲，但這也是因為這一舉措是廣泛預期的。但如果長期來看，利率繼續下降，這可能會促使零售投資者在 Opendoor 的持倉上更加大膽，從而引發更大的上漲。</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>雖然這可能是一個誘人的理由來對該股票進行_投機_，但考慮到其糟糕的利潤率和缺乏盈利能力，長期來看並沒有充分的理由去_投資_該公司。在業務大幅削減成本並改善底線之前，您可能最好避免該股票。</p>
</div>

Could Rate Cuts Help Send Opendoor's Stock Soaring?

- Opendoor Technologies 股價今年上漲 500%，近期投資者變得謹慎。  
- 美聯儲宣佈降息，可能刺激房地產市場，但公司基本面仍然薄弱。  
- 降息未必能改善 Opendoor 的盈利能力，投資需謹慎。  

降息是否能推動 Opendoor 的股票大幅上漲？