A seismic shift is occurring at Opendoor Technologies (NASDAQ: OPEN), and the market is responding with force. The company’s stock has been on a remarkable run, surging over 460% year-to-date.
This explosive momentum is a direct reaction to a landmark Sept. 10 announcement that signals a new chapter for the real estate sector technology firm. The news that Kaz Nejatian, the former COO of e-commerce titan Shopify, would take over as CEO, flanked by the return of visionary co-founders Keith Rabois and Eric Wu to the board, has been interpreted by investors as a game-changing event.
