"The turnaround coincides with a noticeable shift in retail investor sentiment on platforms like Reddit and X. The stock has now gained 413.84% year-to-date, transforming from a cautionary tale into what traders are openly calling a meme stock with legitimate turnaround potential. What started as skepticism in early October has evolved into cautious optimism, with sentiment scores climbing from neutral territory into somewhat-bullish range by late October."
"Trading activity tells the story of shifting sentiment. OPEN saw explosive volume on Sept 11 (1.01 billion shares), marking the initial meme stock breakout. After a 26% correction in late September, volumes remained elevated through October, averaging 200-288 million shares on rally days. The Oct 24 surge to $8.39 drove 208 million shares, and Oct 27 closed with 110 million shares, well above the normal 50-100 million daily average. This sustained activity signals that retail traders haven't abandoned the position; they've simply repositioned it."
Opendoor shares rose 12.7% over five trading days, closing at $8.16 and reversing a slide from early September when shares peaked near $10.21. The stock has gained 413.84% year-to-date. Retail investor sentiment on Reddit and X shifted from skepticism in early October to somewhat-bullish by late October. Co-founder Keith Rabois rejoined the board as Chairman, and former CEO Carrie Wheeler resigned in August after losing investor support. Traders cite Opendoor's AI-driven platform improvements, a recovering housing market narrative, and hopes for lower interest rates. Trading volumes spiked, including 1.01 billion shares on Sept 11 and elevated averages of 200–288 million on rally days.
Read at 24/7 Wall St.
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