Why Shares of Opendoor Are Skyrocketing Again Today

Key Points

• Opendoor has become the next meme stock to watch.

• The improbable run continued today.

• EMJ Capital founder Eric Jackson continued to post bullishly about Opendoor on X, and has a big price target for the stock.

• 10 stocks we like better than Opendoor Technologies ›

Shares of iBuying real estate company Opendoor (NASDAQ: OPEN) once again soared, trading roughly 71% higher today, as of 12:18 p.m. ET. The stock continues to surge on meme-stock trading activity and bullish social media posts from EMJ Capital founder Eric Jackson.

This meme stock could have legs

Opendoor has caught the attention of the meme stock crowd on Reddit's WallStreetBets, and high short interest also helped catapult the stock higher this month. As of this writing, Opendoor traded close to 600% higher this month alone.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »

Image source: Getty Images.

Not only are retail traders in on the stock, but so is EMJ Capital founder Eric Jackson. Jackson has a history of picking stocks that have turned into multibaggers. Some of his former bets that have worked out well are Carvana, Coinbase, Roku, and Alibaba. Yesterday, Jackson tweeted another post, reiterating his position from last week that Opendoor can get to $82 per share (the stock currently trades below $4 per share).

As an iBuying platform, Opendoor is in the business of purchasing homes from sellers online and in cash, and then trying to resell those homes for higher prices. In recent years, the macro-environment has proved challenging for the housing market. The iBuying model also hasn't been proven out, typically generating slim margins.

Meme stocks are always very risky

Opendoor is supposedly in the early stages of transitioning to more of a real estate agent-assisted model that analysts at Citizens JMP noted last month could be a more capital-efficient, higher-margin business. But the company still has a lot of work to do and is also dealing with high cash burn and high debt.

With the stock now trading at a multibillion-dollar market cap and still generating significant losses each quarter, it has clearly become detached from fundamentals and is likely to be very volatile, with the potential for big sell-offs down the line. Invest at your own risk.

Should you invest $1,000 in Opendoor Technologies right now?

Before you buy stock in Opendoor Technologies, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Opendoor Technologies wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,056,790!*

Now, it’s worth noting Stock Advisor’s total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

*Stock Advisor returns as of July 21, 2025

Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Roku. The Motley Fool recommends Alibaba Group and Coinbase Global. The Motley Fool has a disclosure policy.