1 Growth Stock Down 90% to Buy Right Now
In retrospect, it's clear that Opendoor Technologies' (NASDAQ: OPEN) earliest public investors got ahead of themselves shortly after its 2020 initial public offering (IPO). Shares of the real estate outfit soared because of the pandemic with too few investors worrying about the stock's actual value or the company's growth prospects. As reality set in, so did the profit-taking, and the stock is still down 90% from its early 2021 peak.
But the pendulum swings both ways. The steep sell-off was just as exaggerated as the red-hot rally that came before it. This stock is now primed for a bout of bullishness, assisted by a real estate market that's not as terrible as it was once feared it would be.
Opendoor is a residential real estate buying and selling platform. The company will pay cash for houses and then sell these properties to other buyers.
Source Fool.com
