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Benzinga
Benzinga
Business
Anusuya Lahiri

Opendoor's Outlook Trimmed Sharply As Analyst Warns Of Widening Losses

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Opendoor Technologies (NASDAQ:OPEN) shares slipped on Wednesday as the home-flipping platform’s weaker-than-expected guidance and shift to an agent-led sales model deepened concerns over mounting losses and strategic direction despite a return to profitability last quarter.

Keefe, Bruyette & Woods analyst Ryan Tomasello downgraded the stock from Market Perform to Underperform on Tuesday, maintaining a $1 price forecast.

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