Opendoor disturbs the real estate market with its new model. It buys houses and sells them on its platform.
Open -handed
Open -handed The stock rose 78% higher on Thursday after the named retail favorite Shopify Executive KAZ NEJANIAN as CEO and co -founder Keith Rabois as chairman.
The meme share reached a 52-week high and continued a breathtaking run this year, with the shares so far rising by more than 500%.
The former CEO Carrie Wheeler resigned last month after a pressure campaign by investors, which contained critical comments from Rabois and hedge fund manager Eric Jackson, who was an essential part of the revival of the stock this year.
Jackson built a massive fan base on X due to his successful bet CarvanaAnd then turned to cheer a turnaround at OpenDoor.
OPENDOOR said on Wednesday that it “in the start -up mode” by bringing Rabois and Eric Wu, who acted as the first CEO of the company, back to the board in 2023.
The company went to the stock exchange in 2020 through a Special Purpose Acquisition Company. The Opendoor business includes the use of technology for buying and selling houses and pieces of profits.
Nejian said the company would use artificial intelligence to buy and sell a house, “radically easier, faster and safer”.
The shares of OpenDoor traded at the beginning of this year below 1 US dollar, and the company threatened to be derived from Nasdaq.
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OpenDoor year until today.