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Here's Why Opendoor Stock Fell 22% Last Month

TheMotleyFool

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Here's Why Opendoor Stock Fell 22% Last Month: https://g.foolcdn.com/editorial/images/731431/gettyimages-483527639.jpg

Shares of Opendoor (NASDAQ: OPEN) tumbled 21.6% in April, according to S&P Global Market Intelligence, due to worrisome housing market data. The company's delicate financial health doesn't leave much wiggle room, and Opendoor will continue to suffer net losses as real estate struggles with difficult macroeconomic conditions.

The company operates an e-commerce platform for residential real estate. It buys and sells homes, so its financial results are dictated by volume and pricing in the housing market. That sector was booming through most of the pandemic but has hit an exceptionally rough patch during the past year.

Image source: Getty Images.

Source Fool.com

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