Investors in Opendoor Technologies (NASDAQ: OPEN) have experienced huge share-price swings over the last three years. A massive run-up amid a surging housing market during the pandemic gave way to huge losses and questions about the company's viability as parts of the housing market collapsed.
Since its disastrous crash, Opendoor has taken steps to restore stability to the company, and the stock has risen more than 220% since the beginning of the year. Does that mean the stock is on the road to recovery, or is the upturn a head fake that could fool investors? Let's take a closer look.
Opendoor operates in the iBuying market, a digital platform for real estate transactions, specifically with regard to homes. Through such transactions, it seeks to profit from commissions, selling homes for more than it paid, and interest on home loans.
Source Fool.com