Why Offerpad Stock Soared 41% in February
Shares of Offerpad Solutions (NYSE: OPAD), an iBuyer ("instant buyer" and seller) of residential real estate, surged 40.9% in February, according to data from S&P Global Market Intelligence. The stock's gain is largely attributable to the company's release of a fourth-quarter 2021 report that was better than many investors were likely expecting.
For context, the S&P 500 and Nasdaq Composite fell 3% and 3.4%, respectively, last month.
Offerpad might be a new name to many investors, as the tech-enabled online buyer and seller of homes only began trading on Sept. 2, 2021, when it went public via a special purpose acquisition company (SPAC). The company stock surged in the first couple of weeks after it began trading but then steadily fell through January.
Source Fool.com
