Opendoor Technologies Inc (OPEN) saw its stock price surge by 5.12% in the latest 24-hour trading period, continuing its recent upward trajectory. This movement comes as part of a broader trend involving the so-called "DORK" stocks - an acronym that includes Krispy Kreme (DNUT), Opendoor (OPEN), Rocket Companies (RKT), and Kohl's (KSS).

The recent rally in Opendoor's stock price is particularly notable, with the company's shares skyrocketing by 380% over the past month. This dramatic increase has been fueled by several factors, including a bullish price target of $82 set by a prominent hedge fund manager. The optimistic outlook comes despite Opendoor's challenging financial performance, as the company reported a net loss of $85 million in the first quarter of the year.

Adding to the stock's volatility is the high level of short interest, with over 30% of Opendoor's outstanding shares being shorted. This has led to speculation about a potential short squeeze, similar to the meme stock phenomenon witnessed in 2021. The stock has also experienced unprecedented trading volumes, with recent daily trades far exceeding its average of 164.8 million shares. While the current trend has boosted Opendoor's stock price, investors are advised to approach with caution, as the underlying fundamentals of the company remain uncertain amidst this speculative trading environment.