MW Opendoor's stock is tanking after earnings. Bulls are pushing for this long-shot fix to the company's woes.
By James Rogers
Marcus Lemonis, TV personality and executive chair of Beyond Inc., thinks that a partnership with certain retailers could be a winner for Opendoor
Opendoor, which recently attracted meme-stock-like attention, reported second-quarter results after market close Tuesday.
Shares of Opendoor Technologies Inc. took a dive Wednesday in the wake of the company's second-quarter results, in the latest twist for a company that recently attracted meme-stock-like attention.
The e-commerce platform for residential real-estate transactions (OPEN) was one of a number of heavily shorted names swept up in a meme-stock frenzy last month, along with Kohl's Corp. $(KSS)$ and Krispy Kreme Inc. (DNUT).
The craze sent Opendooor's stock soaring 506% through the first three weeks of July before it pared some of the gains.
The stock was dropping 14.5% in morning trading Wednesday, weighed down by a weaker-than-expected financial outlook and a narrow earnings miss in its second-quarter results Tuesday. It has lost 33% since closing at a 17-month high of $3.21 on July 21.
Marcus Lemonis, a TV personality and the executive chair of Beyond Inc. $(BYON)$, weighed in on Opendoor late Tuesday, posting on X that the company needs to lower its cost of acquisition of customers. "We have a database that can help," he added.
"We the shareholders want to hear more Marcus! Good ideas are welcome here!" Opendoor investor Eric Jackson, founder of EMJ Capital, responded.
In a subsequent post on X, Lemonis wrote that there could be "a very interesting partnership" between Opendoor and home-goods retailers Bed Bath & Beyond, Overstock and Kirkland's. Beyond is the parent company of Bed Bath & Beyond and Overstock and also partners with Kirkland's, which recently rebranded as the Brand House Collective Inc. $(TBHC)$.
Given that the three companies are home-goods retailers, a partnership could potentially lower customer-acquisition costs by providing Opendoor access to data on consumers who are planning home purchases or renovations. It could also potentially give Bed Bath & Beyond, Overstock and Kirkland's data on new homeowners looking to furnish their properties.
Lemonis is known for his role in the CNBC series "The Profit," which focused on helping struggling businesses. He is also the chief executive of Camping World Holdings Inc. (CWH).
On X, Lemonis cited the availability of daily "real-time home data" and what he described as "a very rich database."
"We all struggle with lowering our cost of acquisition," Lemonis said. "That acquisition of names is only good if the customers are relevant to the business."
"Marcus had a very good idea and I made an intro to the company," EMJ Capital's Jackson subsequently wrote on X. "If your current reality sucks, change it," he added.
MarketWatch has reached out to Opendoor for comment.
Lemonis has over 684,000 followers on X, and his suggestions for Opendoor sparked plenty of chatter on social media. "Marcus for CEO!!!!" wrote one user, who goes by @danjohnb.
Opendoor has been wrestling with a challenging housing market, although for the second quarter, the company reported its first quarter in three years of profitability for adjusted earnings before interest, taxes, depreciation and amortization.
The company's second-quarter revenue was $1.6 billion, up 4% from the prior year's quarter, beating the FactSet consensus estimate of $1.5 billion. Some 4,299 homes were sold during the quarter, an increase of 5% on the prior year's quarter, and up 46% from the first quarter.
The company's stock is up 22.2% in 2025, outpacing the S&P 500 index's SPX gain of 7.3%.
Joseph Adinolfi contributed.
-James Rogers
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August 06, 2025 11:08 ET (15:08 GMT)
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