Opendoor stock pops as CEO resigns following investor pressure

Opendor CEO Carrie Wheeler said that he had resigned from the online real estate company, which has increased the last interest of retail investors, and the stocks exploded about 10% on Friday.

Since the company’s three -month earnings report was not sure that a return to investors was continuing at the beginning of this month, pressure on the wheels that took over the best job started in 2022. The stock has increased by more than six times since it was released in 51 cents in June, which is a price that puts the company at the risk of deleting it from Nasdaq.

“The last weeks of the intense external interest in Opetoor have arrived at a time when the company focuses and progresses.” written In an article in X.

Opendoor’s job involves using technology to buy and sell houses, and to use the gains pocket. In the latest earning report, OpenOor said he expects to buy only 1,200 houses in the third quarter, and expects to buy 3.504 in the second quarter and in the third quarter of 2024. It also reduces marketing expenditures.

Eric Jackson, the Hedge Fund Manager, who pioneered Opetoor’s share of stock in July, news and said “Let’s start with a big feeling again.” Jackson said last month that the company received a share in the company and bets.

Jackson has joined the chapter, the founding partner of OpenOor and the Capitalist Keith Rabois, a noisy sound in pushing, for the separation of Wheeler. published “Not a single founder or manager”, which directs the company to its public offering on August 13, supports Wheeler as CEO.

OPENDOOR Technology Chef on Friday Shrisha Radhakrishna “President and temporary leader” and said that a CEO search continues.

In 2020, Opendoor opened the public through a special purpose purchasing company and continued a wave of Spac supported by low interest rates and the Covid -era market Euphoria. The following rising inflation and increased interest rates hit all technology stocks, but had a major impact on OpenOor due to their direct exposure to mortgage rates.

The company lost 99% of its value from the beginning of 2021 to groove in June. The market value with earnings on Friday is approximately 2.5 billion dollars.