Why Opendoor Stock Could Be Going to $0

Never let it be said that Opendoor Technologies (NASDAQ: OPEN) stock doesn't keep things interesting. From 2021's post-IPO peak of more than $34, to this July's low of less than $1, back to its current price of nearly $8 apiece, shares of this real estate sales-listing platform have been all over the map.The latest drama? Short-sellers are selling into the recent recovery, arguing that the meme stock's run-up is rooted in misguided hopes that an actual profit is in the near-term cards. Now the company's management is getting into the fight. Earlier this month, Opendoor granted warrants -- the option of buying shares of the company in the future at a pre-set price -- to existing shareholders in an effort to push short-sellers out of their trades, and, ideally, also silence their criticisms. Management simultaneously bolstered this initiative by unveiling a three-point plan to push the company out of the red and into the black within a year.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool