Opendoor (OPEN) Stock Surge Continues As Rate Cut Hopes Fuel Real Estate Rally

Benzinga

Shares of Opendoor Technologies extended their rally Tuesday, gaining 2.83% and contributing to a 48% surge over the past five sessions, according to Benzinga. The move follows Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole symposium, where he suggested the central bank may consider interest rate cuts, boosting optimism in the housing sector. Lower borrowing costs would make mortgages more affordable, benefiting Opendoor’s iBuying model. The stock has climbed 114% over the past month as interim CEO Shrisha Radhakrishna outlined plans for an AI-driven, multi-product strategy.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Shares of Open Door Technologies extended their rally Tuesday, gaining 2.83%,

00:06contributing to a 48% surge over the past five sessions, according to Benzinga,

00:10who follows Federal Reserve Chair Jerome Powell's remarks at the Jackson Hole Symposium,

00:14where he suggested the central bank may consider interest rate cuts,

00:17boosting optimism in the housing sector.

00:19Lower borrowing costs would make mortgages more affordable, benefiting Open Door's iBuying model.

00:24The stock has climbed 114% over the past month,

00:26as interim CEO Shreesha Radhak Shreeshna outlined plans for an AI-driven multi-product strategy.

00:32For all things money, visit Benzinga.com.

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