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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