Opendoor’s 500% surge signals return of meme stock mania
Meme stocks are rallying in lockstep with crypto and the broader stock market, with gains reminiscent of the pandemic era.
Shares of Opendoor Technologies (OPEN) have skyrocketed more than 170% over the past five trading days after being crowned this season’s meme stock by traders on Reddit’s WallStreetBets.
Shares of the online real estate marketplace have seen an upsurge in speculative interest and trading volumes over the past month after gaining traction among traders on Reddit’s WallStreetBets — a community known for spotlighting meme stocks.
Previously a penny stock, Opendoor shares have soared more than 500% over the past 30 days, trading at $3.11 at the time of writing.
