Why Opendoor Stock Was Down Today
Opendoor Technologies (NASDAQ: OPEN) was one of a number of real estate stocks that were heading lower today. At the close on Tuesday, the stock was down 10.5%.
In recent months, the home-flipping specialist has proved to be highly sensitive to interest rates and mortgage rates, and that explains why the stock headed lower on Tuesday.
An unexpected rise in job openings in August and comments from two Fed presidents helped send Treasury bond yields to 16-year highs, lifting mortgage rates and squeezing Opendoor stock in the process.
Source Fool.com
