Opendoor Shares Rise 16.6% After Retesting a 52-Week Low

Opendoor Technologies (OPEN) gained 16.58% on Oct. 15, closing at $2.32 at 4 p.m. ET (20:00 UTC) after touching its 52-week low again. The move came as the 10-year Treasury yield declined, while the company’s latest quarterly results showed a larger net loss. The stock reached $1.93 on Oct. 14, its lowest mark in 52 weeks, and returned to that price briefly during the following session before ending higher. The 10-year Treasury yield was 5.10% on Oct. 15, down from 5.19% a day earlier, a nine-basis-point decline. Those moves occurred in the same session, but their timing alone does not establish that the yield drop caused the stock rally. Higher mortgage rates can reduce buyers’ ability or willingness to finance homes and weigh on demand for Opendoor properties.

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