Opendoor Technologies falls after Q3 revenue forecast falls short of estimates

Opendoor Technologies

06/08/2025 13:41

** Shares of residential real estate platform Opendoor Technologies OPEN.O drop 22.2% to $1.96 premarket

** Stock set for its first decline in four sessions, if losses hold

** OPEN forecasts Q3 revenue in the range of $800 mln - $875 mln, falling short of analysts' average forecast of $1.2 bln, according to data compiled by LSEG

** Reports Q2 revenue of $1.6 bln, up 4% YoY and beats estimates of $1.5 bln; posts loss of 4 cents/share vs loss of 13 cents/share a year ago

** Shares surged more than 245% in July, when retail traders jumped into highly shorted meme stocks including OPEN, Krispy Kreme DNUT.O and Kohl's  KSS.N

** Bullish posts on X.com by portfolio manager of Canada-based hedge fund EMJ Capital Eric Jackson also stirred the rally last month

** Eight of 11 analysts that cover the stock rate it "hold", their median PT is $1

** As of last close, OPEN was up more than 57% YTD

(Reporting by Shashwat Chauhan in Bengaluru)

((Shashwat.Chauhan@thomsonreuters.com))