Opendoor (OPEN) Stock Jumps 16% After Record Low: What Sparked the Bounce?

TLDR Opendoor (OPEN) closed up 16% at $2.31 on Thursday after hitting a record low of $1.93. A sharp drop in Treasury yields and a new 2% down co-ownership program helped fuel the rebound. The stock fell 49% in the third quarter, from $4.62 to $2.37, and is down 66% year to date. Hedge funds cut their holdings from $315 million to $156.2 million, and the count fell from 39 to 36. The Fed meeting later this month and earnings in early November are the next catalysts. Opendoor (OPEN) stock closed up 16% at $2.31 on Thursday. It had jumped as much as 21% during the session to $2.34. That move came a day after the stock dipped below $2.00.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinCentral.