Why Opendoor Technologies Stock Is Soaring Today
Opendoor Technologies (NASDAQ: OPEN) reported quarterly results that fell short of expectations, but investors were more focused on the potential benefit of a new partnership, sending shares up as much as 25% on Friday. Opendoor reported a loss of $0.09 per share in the second quarter on revenue of $4.2 billion. The revenue was slightly ahead of the consensus estimate, but analysts had been expecting the iBuying housing company to post a profit.