Opendoor 'Not A Meme Stock'? But It's Been Trading Like A TikTok Trend

Benzinga

Opendoor shares were volatile on Monday after surging more than 50% last week. The rally has drawn comparisons to meme stock trading, but new chairman Keith Rabois pushed back on that characterization. Speaking on CNBC Friday, Rabois said Opendoor’s momentum reflects retail investors recognizing its role in reshaping real estate transactions. He added that markets exist to allocate capital, and consumers are voting for Opendoor’s long-term potential. Rabois highlighted that individual investors identifying fundamentals, not hype, will drive the company’s future success. Both Opendoor promoter Eric Jackson and crypto investor Anthony Pompliano dismissed Opendoor’s meme stock label, saying its story is misunderstood.

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

00:02Open Door shares were volatile on Monday after surging more than 50% last week.

00:06The rally has drawn comparisons to meme stock trading,

00:09but new chairman Keith Ramos pushed back on the characterization.

00:12Speaking at CNBC Friday, Ramos said,

00:14Open Door's momentum reflects retail investors recognizing its role in reshaping real estate transactions.

00:20He added that markets exist to allocate capital,

00:22and consumers are voting for Open Door's long-term potential.

00:25Ramos highlighted that individual investors identifying fundamentals, not hype,

00:29will drive the company's future success.

00:31Both Open Door promoter Eric Jackson and crypto investor Anthony Pompolino

00:34dismissed Open Door's lead stock label, saying its story is misunderstood.

00:39For all things money, visit Benzinga.com.

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