Once a penny stock struggling to keep its head above water, online home flipper Opendoor Technologies (OPEN) is staging an astounding comeback. The company’s shares have exploded more than 430% in just one month, transforming OPEN stock from a Wall Street underdog into one of the hottest names on the tape.
The meteoric rise gained ferocious momentum starting on July 14, when EMJ Capital founder Eric Jackson disclosed a new position in OPEN. Jackson called the stock a potential “100-bagger” and projected the company would post its first positive EBITDA as early as next month. The vote of confidence set the spark, but what followed was an outright blaze.
