Opendoor Technologies Inc (OPEN) saw its stock soar 5.07% in pre-market trading on Monday, continuing its recent upward trajectory. The surge comes on the heels of a significant management shake-up and a renewed focus on artificial intelligence (AI) in the home-buying sector, which has sparked investor optimism about the company's future prospects.

The rally is primarily driven by the recent appointment of Kaz Nejatian, former Shopify COO, as Opendoor's new CEO. Additionally, co-founders Keith Rabois and Eric Wu have returned to the board, with Rabois taking on the role of chairman. This leadership reset is complemented by a $40 million equity investment from Khosla Ventures and Wu, signaling strong confidence in the company's new direction. The new management team is emphasizing a shift towards AI-powered tools to streamline the home buying and selling process, potentially revolutionizing the real estate industry.

Adding to the positive sentiment, Opendoor recently reported a return to adjusted EBITDA profitability in the second quarter of 2025, posting $23 million. This financial turnaround, coupled with the company's strategic shift, has caught the attention of influential investors like Eric Jackson, founder of EMJ Capital. Jackson has been vocal about his bullish stance on OPEN, comparing it to the "Amazon of housing" and highlighting its potential for significant growth. The stock's impressive year-to-date gain of over 460% reflects growing investor confidence in Opendoor's ability to disrupt the traditional real estate market with its iBuying platform and AI-driven approach.