On July 9, Opendoor Technologies rose 8.35% in regular trading, trading at $5.14/share, with turnover of $64.54 million.

On the news front, the company was officially included in the Russell 3000 Index after market close on June 26, simultaneously qualifying for either the Russell 2000 or Russell 1000 constituent status. Passive fund allocation demand continues to be released as the index inclusion effect persists. Additionally, Alliance Global Partners initiated coverage with a Buy rating and an $8 price target, implying significant upside from current levels.

The company recently announced the closure of its India operations and a reduction of nearly 250 employees, with CEO Nejatian articulating a strategic pivot toward becoming a software and artificial intelligence enterprise, rebuilding the business model with automation at its core. In Q1, adjusted EPS of $(0.05) beat the $(0.07) consensus estimate, while revenue of $720 million exceeded the $666.5 million estimate, reflecting improving operational momentum.

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