Kohl’s stock soars and Opendoor sees massive volume
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Opendoor Technologies has recently gained favor as a meme stock and seen incredible valuation gains, but the company's share price is pulling back today as investors take profits on recent gains. Despite big sell-offs in today's session, the stock is still up 330% over the last month.
As of noon Wednesday, the price of Opendoor stock had fallen to $2.05. That’s a drop of nearly 50% in just a few hours of trading.
Meme stocks are back. Jolted by a sudden surge in Opendoor stock last week, a handful of other shares have ripped higher on interest from retail traders.
Shares of Opendoor Technologies ( OPEN -10.44%) have caught fire in the last month. Driven by investors posting online about buying the penny stock, it is now up 325%, with most of the gains coming in the past week.
Hedge fund manager Eric Jackson suggests that Opendoor's stock price could increase one hundredfold to $82 per share.
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Penny stock iBuyer platform Opendoor saw its stock more than double on Monday, before giving up most of these gains in afternoon trading.
The ticker $OPEN has been heavily cited on WallStreetBets, the online forum behind the infamous GameStop mania in 2021.
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