Opendoor Stock Rallies As Rate Cuts Could 'Unfreeze' Housing Market

Benzinga_recent_news
08/23

Opendoor Technologies, Inc. OPEN shares soared Friday as investors celebrated Federal Reserve Chair Jerome Powell's dovish remarks from Jackson Hole. 

Powell took a surprisingly dovish tone in his Jackson Hole address, emphasizing that risks to the U.S. job market are increasing. 

He suggested that if the economy slows further, the central bank could consider cutting interest rates. 

Stocks rallied after Powell's unexpectedly dovish remarks, and Opendoor was among the companies that rode the wave higher.

Read Next: Opendoor CEO Embraces AI And Retail Investors: ‘Thanks For Believing’

Opendoor's vocal supporter Anthony Pompliano took to X to celebrate Powell's remarks and what interest rate cuts could mean for the company. 

"Interest rate cuts are big for OPEN. Powell can unfreeze the housing market," Pompliano wrote. 

Opendoor promoter Eric Jackson had his own take on potential rate cuts with an interesting twist–he was standing in front of music star Drake's house "until he buys at least ONE share of OPEN."

Jackson posted a video from outside Drake's house on X and wrote: 

"Day 3 outside ⁦Drake⁩ 's house. Jerome Powell just signaled he's cutting rates & OPEN ripped +30% today. Housing cycle turning, cult stock rising. Let's ride. 🚀📈."

Read Next: President Trump Worth More Than $5.5 Billion After $100 Million In Bond Purchases While In Office

Lower interest rates could benefit Opendoor in several ways. 

Opendoor shares rallied 20% to $4.32 on heavy trading volume at the time of publication Friday. Opendoor stock has gained more than 200% over the past six months, according to data from Benzinga Pro. 

Read Next: 

Photo: Shutterstock

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10