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Benzinga

Business

Henry Khederian

Opendoor (OPEN) Stock Surge Continues As Rate Cut Hopes Fuel Real Estate Rally

OPEN Opendoor Opendoor Technologies Opendoor Technologies Inc the Federal Reserve US Federal Reserve Jerome Powell

Opendoor Technologies

Shares of Opendoor Technologies Inc (NASDAQ:OPEN) shares are surging again Tuesday, contributing to a 48% gain over the past five trading sessions. The move higher comes amidst a broader rally in the real estate sector, fueled by optimistic signals from the Federal Reserve.

What To Know: The primary catalyst for the bullish momentum was Federal Reserve Chair Jerome Powell’s address last week at the Jackson Hole economic symposium. Powell’s indication that the central bank may be prepared to “adjust our policy stance” and consider interest rate cuts has invigorated investors.

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