Opendoor Technologies Inc (OPEN)

[lakingsphan0427]

Liking my 1500 shares that I bought $1.64.. Lets go OPEN!!!

[gail]

was hoping for more, next. lol

[gail]

its lonely here. is there anyone that wants to make money with me on this one?

[gail]

super weeeeee!!!!!

[gail]

here we gooooo!!

[gail]

grabbed a few today.

[Monksdream]

Opendoor Technologies Inc NASDAQ: OPEN

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Real Estate : Real Estate Management & Development | Small Cap ValueCompany profile
Opendoor Technologies Inc. is an e-commerce platform for residential real estate transactions. The Company, by leveraging software, data science, product design and operations, it manages a marketplace for residential real estate that offers buyers and sellers an enhanced experience. Its products include a first-party (1P) product and a third-party (3P) product. The 1P product enables the sellers to sell their home directly to customers and the Company resell the home to a home buyer. By selling to Opendoor, homeowners can avoid the stress of open houses, home repairs, overlapping mortgages and the uncertainty that can come with listing a home on the open market. The 3P product offering connects the home seller with either an institutional or retail buyer, facilitating the transaction without customer taking ownership of the home. Sellers can request an offer from its network of buyers, while also receiving an Opendoor offer. It operates in approximately 44 markets across the country.
Earnings spotlight: Thursday, August 3 - Apple (AAPL), Amazon (AMZN), Amgen (AMGN), Anheuser-Busch InBev (BUD), ConocoPhillips (COP), Booking Holdings (BKNG), Opendoor Technologies (OPEN), and Wayfair (W). Seeking Alpha analyst Jaime Galvin said "Amazon's crown jewel, AWS, continued to shine, but growth and margins now look to be decelerating sharply."

[glenn1919]

OPEN............................https://stockcharts.com/h-sc/ui?s=OPEN&p=W&b=5&g=0&id=p86431144783

[Eldeano57]

To the moon!

[Triple nickle]

Dip and rip

[Triple nickle]

Yes sir it hit it On to five bucks
Patience pays

[Mr Walnuts]

Good Afternoon $OPEN

[Triple nickle]

Settin up for three bucks

[Triple nickle]

Looking good folks

[santafe2]

Probably a good idea. From the tone of the Q1 conference call it sounds like they've got one or maybe two more tough quarters while they sell off old inventory. All new inventory has been profitable.

[Triple nickle]

Added a few

[gfp927z]

Good point. The Debt / GDP is horrendous, and will only get worse over time. Between the spiraling debt and the global de-dollarization process, there are bound to be some big changes coming at some point. I figure having an allocation to gold/silver makes sense, to balance the stocks, bonds, cash.

>>> De-Dollarization Is Happening at a ‘Stunning’ Pace, Jen Says <<<


https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171724285



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[santafe2]

OPEN Q1 2023 earnings call will be on Thursday May 4, at 5:00PM Eastern. They still have plenty of cash to get through 2023 but will need to turn cashflow positive by the end of the year. Currently ~10% of outstanding shares are short and insiders continue to sell shares regularly. As NASDAQ reports it, 3X more shares were sold over the trailing 12 months than were "bought". Shares "bought" were all purchased at $0 cost as accrued stock options. The current burn rate is over $300MM a quarter, so for me OPEN remains on my watch list.

You can sign in here to listen:

https://edge.media-server.com/mmc/p/hroubj8d

[santafe2]

Regarding Powell and the possibility that the Fed will overdo rate hikes, Powell is in a very different position than Volker was in 1980 when debt to GDP was 30%. Today it's 120%, hence the additional urgency to get treasury rates back down as low as possible. I think he's using Volker as a cautionary tale to justify bludgeoning the economy.

[gfp927z]

santafe, Thanks :o)

It would seem logical for the Fed to cool it for a while, and see how the economy is responding. They can always dial up a few more rate increases later if needed. But Powell is apparently obsessed with the 'Volker mistake' of the 1970s, where the Fed dropped rates too early and then had to clamp down even harder later.

One way to avoid that would be to not overdo it now. The lag time between rate hikes and the economic effect makes the Fed's job a tough one, and historically the Fed tends to tighten too late, and keep the brakes on too long. Powell already screwed up with his 'transient' assumption, so we'll see what happens. Inflation is not nearly as entrenched today as it was in the 1970s, and might resolve faster than expected as the supply chains return closer to normal.

Concerning the short term CD approach (as opposed to T-Bills or money market), this does reduce your flexibility somewhat, since it's possible the stock market will take off to the upside before the CDs mature, and selling them early presumably would entail a penalty. But sounds like a good strategy, although having zero in stocks has risks of its own. Fwiw, I figure a permanent 10-15% stock allocation (S+P 500) provides discipline to have all bases covered. Currently I'm at 29%, but could quickly drop it down to 15% if things start to unravel in earnest.

Thanks for your insights :o)



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[santafe2]

Using short term, 30 & 90 day CDs. This is a transitory position and based as much on the debt ceiling political disagreement as the current financial issues and the deteriorating economic conditions. We'll know more when Powell speaks tomorrow afternoon. I suspect the Fed is still focused on inflation as weekly initial unemployment claims are only slightly elevated over pre-pandemic numbers. I suspect they'd like to see this above 250,000 a week. Here's a link if you want to track it. Numbers come out each Thursday.

https://fred.stlouisfed.org/series/ICSA

As I mentioned in my previous post, housing prices are not falling much because inventory is still quite tight. Case Shiller national housing index is down ~5% since last June. Now that we're in the spring buying season, prices are moving up again. See an article here:

https://www.cnbc.com/2023/05/02/home-prices-rise-in-march-amid-competitive-spring-market.html

[gfp927z]

santafe, >> I sold all of my stocks and went to 80% fixed income <<


Just curious if a) you are using short, medium, or longer term bonds (Treasuries I assume?), and b) if you view the large bond position as a longer term investment, or a shorter/mid term parking place until the stock market finally bottoms out, and then you will transition back into the stock market?

If 'b', then wouldn't T-Bills or the money market be a safer and more flexible alternative to the bonds? T-Bills at over 5% look pretty good all things considered, and money markets are over 4.5%. With the bonds you can also get a capital gain, so I assume that is the attraction?

Thanks for any insights into your strategy :o)




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[santafe2]

This problem is more like the 1970s than 2008. The banking problems, so far, have been related to big money yanking their cash out quickly and putting the banks in a position where they have to sell fixed rate assets at a loss. I've not seen anyone talking about Schwab but their bank is in terrible shape. Any bank that bet heavily on near zero overnight rates as a long term strategy is in trouble now that rates are near 5%.

As I posted on another board, I sold all of my stocks and went to 80% fixed income, only holding on to 20% preferred shares when the market opened last Monday. So I'm skeptical that we can get through this without a recession but I don't think it's anything like 2008. Of course we could default on our federal debt this summer and things could rapidly get worse. Let's hope that doesn't happen.

[KeepOn]

Many think this is going to be worse than 2008.

[santafe2]

The only thing holding up the price of homes is lack of supply as many current home owners who would like to move up or change locations are not willing to give up mortgages that would now come in at a 2X higher rate. For home prices to move up in a meaningful way, interest rates will have to come down. If there's a recession that may happen by the end of the year.

[KeepOn]

We need to see home prices start to rebound, with confidence.

[Mt. Blanc]

OPEN hit 1.26 on a premarket dive.

1.40s likely.

mb

[glenn1919]

OPEN.................https://stockcharts.com/h-sc/ui?s=OPEN&p=W&b=5&g=0&id=p86431144783

[santafe2]

Yes, lots of speculation and gambling going on now. If we consider that the Fed may continue to raise interest rates through mid-summer and that it appears student loan forgiveness is dead in the water and student loan payments are scheduled to begin again this September, it may be a few years before home prices stop falling. According to the St. Louis Fed home prices just leveled off in Q4 '22. It's going to be a long year for OPEN. We'll have to reassess at the end of the year. That is, if they've survived. Given their recent foray into multi-million dollar homes, I'm not so sure they can make it. For example, they have a home in San Diego listed for $28MM and another one listed for $23MM. What were they thinking moving into this high end market?

[Mt. Blanc]

True. I don't own OPEN.

Just making comment that it has plenty of room below even at this level. Heavy trading every day.

mb

[santafe2]

When you're down 97% already, you've been annihilated. Now the trick will be to raise enough money to get through the next year plus before interest rates begin coming down and housing begins moving up again. Market cap is less than $1B with 13%+ shares shorted. It's not a big investment for a many SPX companies if they want to get into this space. I've been out for a long time, just interested in watching how this unfolds.

[Mt. Blanc]

OPEN will get annihilated this year.

May fade away for good.

mb

[santafe2]

Like this idea and it's definitely the future but the next year is going to be a serious test.

[Mt. Blanc]

OPEN ER not good. No surprise.

Stock becomes a buy at cheaper prices.

mb

[Mt. Blanc]

OPEN crushed so far. Not a buy yet.

mb

[Mt. Blanc]

OPEN will trade in the 3's when the sentiment changes.

Similar stocks will rise too.

mb

[808mark]

I agree with you 100% and I think eventually 2023 will be very kind to OPENDOOR. 90days give or take a few is just about right. GL

[Mt. Blanc]

The sandbox will have endure the cat fights that are sure to attract attention.

Can't keep the kitties tied up for too long.

Surely a pissing contest for next 90 days.

mb

[808mark]

Let’s say OPEN to $6 as LONG as there’s zero cats with their appealing sandbox
GL

[glenn1919]

OPEN.................................https://stockcharts.com/h-sc/ui?s=OPEN&p=W&b=5&g=0&id=p86431144783

[Mt. Blanc]

Back to $5.25. OPEN rises as their sandbox gets more appealing.

mb

[808mark]

BACK TO $5+
OPENDOOR LONG

[6of1]

bottom still to come

[351stang]

YES, 37.00 to 1.84 is a POS

[DeafTrader2]

Is this a POS now ?

[123414]

Fed is committed to 2% inflation. Housing inflation price needs a strong correction.

#DontFightTheFED #Affordablehomesforthepeople

[351stang]

POS

[subslover]

On August 4, 2022, Opendoor Technologies Inc. (the “Company”) announced a multi-year agreement (the “Agreement”) with Zillow, Inc. (“Zillow”), as provided in the press release furnished as Exhibit 99.1 to this Current Report on Form 8-K. The Agreement allows home sellers on the Zillow platform to request an offer directly from the Company and has an initial five-year term.
The information contained in Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing

[subslover]

On August 4, 2022, Opendoor Technologies Inc. (the “Company”) announced a multi-year agreement (the “Agreement”) with Zillow, Inc. (“Zillow”), as provided in the press release furnished as Exhibit 99.1 to this Current Report on Form 8-K. The Agreement allows home sellers on the Zillow platform to request an offer directly from the Company and has an initial five-year term.
The information contained in Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing

[351stang]

wow is a penny stock, cause its sure acting like one.