Meme stock Opendoor soars 60% after poaching Shopify exec as CEO

Shopify

11/09/2025 16:12

** Shares of online residential real estate firm Opendoor Technologies OPEN.O soar as much as 60.9% to $9.43 on Thurs after co appointed Shopify SHOP.TO exec as its new leader

** OPEN hits 3-1/2-yr high and on course for biggest daily pct gain on record

** OPEN is the #1 trending ticker on retail investor forum Stocktwits on Thurs

** Tempe, Arizona-based Opendoor late Weds named Kaz Nejatian, COO of Shopify, as CEO

** Also, it said co-founders Keith Rabois and Eric Wu will return to the board, and that Rabois will become the chairman

** “Literally there was only one choice for the job: Kaz," Rabois said in a statement, adding that Nejatian "deeply understands the potential for AI to radically reshape a company’s entire operations."

** Former CEO and board chair Carrie Wheeler stepped down from her roles in Aug amid pressure from investors

** OPEN now up about 470% YTD. Stock ended June at 53 cents

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com ; 1-646-279-6380))