Opendoor Technologies (OPEN) shares jumped nearly 15% in pre-market trading on Monday, adding to Friday’s 14% rally. The gains followed the company’s announcement that it’s once again in compliance with Nasdaq’s minimum bid price rule, securing its spot on the Nasdaq Global Select Market. Meanwhile, the company is also gearing up to announce its second-quarter earnings on August 5.
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Overall, OPEN stock has benefited amid a meme‑stock-style rally driven by speculation and momentum. Despite the recent rally, Opendoor’s core fundamentals remain weak. The company continues to burn through cash, operates on thin margins, and faces limited near-term growth prospects. As of now, attention remains on its results and whether this price action continues or turns into just another short-lived hype cycle.
What’s Happening with OPEN Stock?
Last week, Opendoor received a formal notice from Nasdaq confirming that it had met the exchange’s listing requirements by keeping its stock price at or above $1.00 for 12 straight trading days between July 15 and July 30, 2025.
As a result, the company’s Board of Directors has called off the Special Meeting of Stockholders originally set for August 27, 2025. That meeting was intended to vote on a possible reverse stock split, which is now unnecessary given the stock’s regained compliance.
Meanwhile, shares of Opendoor tumbled after the company announced a delay in its special shareholder meeting regarding the proposed reverse stock split. Despite that dip, OPEN stock has skyrocketed more than 200% over the past month, fueled by a July 14 post on X from EMJ Capital’s Eric Jackson, who expressed a highly optimistic view on the company and projected a bold long-term price target of $82 per share.
Is OPEN a Good Stock to Buy?
Turning to Wall Street, analysts have a Hold consensus rating on OPEN stock based on one Buy, three Holds, and one Sell assigned in the past three months. Furthermore, the average OPEN price target of $0.83 per share implies 60% downside risk.
