- Opendoor Technologies stock rose over 15% on Monday, approaching its previous all-time high.
- Recent executive changes, including the appointment of a new COO, boosted investor confidence.
- Co-founder Keith Rabois was named chairman of the board, and Eric Wu rejoined the board.
- Retail investors, known as the Open Army, have driven the stock up more than 1,800% since late June.
- Despite a pullback, the stock remains up 417% year-to-date but trades 17% below its 52-week high from September 2025.
Shares of Opendoor Technologies surged over 15% during Monday’s trading session on the U.S. stock market. The stock is moving close to a new all-time high, repeating gains observed in early September following key leadership changes.
The company recently appointed a new chief operating officer, which led to strong investor interest. In addition, Opendoor named co-founder Keith Rabois as chairman of the board and brought co-founder Eric Wu back onto the board. Rabois said in a statement, “Literally, there was only one choice for the job: Kaz. I am thrilled that he will be serving as CEO of Opendoor. He is a proven executive with a founder’s brain. He is the right leader to unlock Opendoor’s unique data and assets as we build on Opendoor’s original mission, now enhanced as an AI-first company.”
Recent headlines noted that Wu purchased $2 billion in Opendoor shares. These leadership moves and insider buying have increased positive sentiment toward the company.
Opendoor Technologies has become seen as a meme stock, similar to AMC and GameStop, after a sharp increase in its share price. Its shares have climbed over 1,800% since late June, driven by a group of retail investors on social media called the Open Army. These investors have bought the stock while advocating for management changes.
Although there was no major news driving the stock Monday, Opendoor opened with significant gains, suggesting another meme stock rally. Despite giving back some of its early session gains, the company’s shares remain up 417% for the year and are trading 17% below the 52-week high of $10.52 reached in September 2025.
For related news, see: AMD Stock Surges After Sealing Multi-Billion Dollar OpenAI Deal.
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