Juniper

Mostly small caps and $BTC

[Juniper @888juniper]

$OPEN
As expected, my post below got a lot of smug responses, with many people claiming my seven-figure loss is a lie.

I don’t lie. Here’s a screenshot of my losses, which are now over $1M. These are unrealized losses - I’m still holding and will see what happens.

[Juniper @888juniper]

As someone who’s lost seven figures on $OPEN, I’m feeling particularly disgusted (and stupid) today.

The Open House was a joke - especially the mostly irrelevant, scripted questions. They were frankly offensive to shareholders who actually want real, transparent answers on fundamental topics like contribution targets, the new ANI target, timelines for the nationwide 3P launch, etc.

And how is there still no mention of the warrants that expire in 13 days?

For the first time since I started investing in $OPEN, I don’t trust the leadership. I’m not selling, but in my head I’ve already written this off

[Juniper @888juniper]

$OPEN warrants: 2¢. Stock ~$1.35, strikes $9–$17, expiration in under two weeks. Amazed they still have any bid at all. Hands down the worst investment decision of my life.

[Juniper @888juniper]

Two narratives that keep getting repeated about $OPEN drive me crazy: the “short squeeze is coming” talk and the claims of price manipulation.
Here’s the reality. Short sellers have made an absolute killing. They’re not idiots - they know exactly what they’re doing. And the price isn’t being manipulated. There are simply more sellers than buyers because a lot of people (myself included) no longer trust the story.

[Juniper @888juniper]

@coachnategibbs @nejatian Exactly

[Juniper @888juniper]

I have no doubt @nejatian is an incredibly smart individual who did great work at Shopify. That said, the frequent shifts in messaging and guidance have left $OPEN shareholders without a clear picture of the roadmap.

I no longer want to hear about the “mission.” My questions are straightforward:

🔹What is Opendoor’s strategy?
🔹Where do we want to be in 2 and 3 years?
🔹What is the target 1P / 2P / 3P mix?
🔹Which products are we actually focused on?

I also want to see a concrete roadmap for the next 12–18 months. We haven’t seen anything like this in the year since Kaz joined.

Beyond that, we need a real Investor Relations function. A CEO answering questions on X is not a substitute. The Opendoor story remains poorly understood by the market, and the company needs to start issuing more consistent, professional communications and press releases.

These are basic expectations. They need to be addressed.

[Juniper @888juniper]

@Sammy_Geneva @nejatian It blows my mind warrants were not addressed in the Q3 Open House

[Juniper @888juniper]

@SolWielkop Sure, but there must be more of a vision for where we are headed and where the focus is. In ~1-2 years what are expectations around high level revenue split between say 1P vs 3P? I don’t have a clue - maybe they don’t either

[Juniper @888juniper]

@DB8473231348538 @nejatian I don't mind them being on X, it's up to them of course. But official company news must come through more formal channels

[Juniper @888juniper]

@DavidAdams76787 Fair point

[Juniper @888juniper]

Before $OPEN Q3 earnings, I said the Open House would show whether the Opendoor 2.0 turnaround is working. As of today, the answer has to be no- especially in today’s macro. The next big question is: will the 3P model save Opendoor?

[Juniper @888juniper]

$OPEN the importance of this week's Q3 earnings cannot be understated. It is very simply going to answer -
IS THE OPENDOOR 2.0 TURNAROUD WORKING?

[Juniper @888juniper]

@DavidAdams76787 I dont think so. Think we have hit low.

[Juniper @888juniper]

@fantasywin44166 @nejatian 💯

[Juniper @888juniper]

As someone who’s lost seven figures on $OPEN, I’m feeling particularly disgusted (and stupid) today.

The Open House was a joke - especially the mostly irrelevant, scripted questions. They were frankly offensive to shareholders who actually want real, transparent answers on fundamental topics like contribution targets, the new ANI target, timelines for the nationwide 3P launch, etc.

And how is there still no mention of the warrants that expire in 13 days?

For the first time since I started investing in $OPEN, I don’t trust the leadership. I’m not selling, but in my head I’ve already written this off

[Juniper @888juniper]

@gqgeek I haven't taken the loss yet. Unrealised. Let's revisit in a few months

[Juniper @888juniper]

$OPEN
As expected, my post below got a lot of smug responses, with many people claiming my seven-figure loss is a lie.

I don’t lie. Here’s a screenshot of my losses, which are now over $1M. These are unrealized losses - I’m still holding and will see what happens.

[Juniper @888juniper]

As someone who’s lost seven figures on $OPEN, I’m feeling particularly disgusted (and stupid) today.

The Open House was a joke - especially the mostly irrelevant, scripted questions. They were frankly offensive to shareholders who actually want real, transparent answers on fundamental topics like contribution targets, the new ANI target, timelines for the nationwide 3P launch, etc.

And how is there still no mention of the warrants that expire in 13 days?

For the first time since I started investing in $OPEN, I don’t trust the leadership. I’m not selling, but in my head I’ve already written this off

[Juniper @888juniper]

@ViviC162308 @Dreamstateawake Yup

[Juniper @888juniper]

What $OPEN can do in the next 1-2 weeks to make shareholders happier:

🔹Announce and start another share buyback at these levels
🔹CEO + Board open market buying
🔹Extend KAZ warrants further out to strengthen alignment
🔹Push real-time positive updates on https://t.co/mNtvpDQFBt (specifically velocity, capital-light mix, resales)
🔹Open letter from CEO directly addressing the profitability issues / delay with clear near term steps to address

Stock is beaten down. Actions > talk

[Juniper @888juniper]

@uselessrube I posted it

[Juniper @888juniper]

Jackson is a joke. Anyone who bought purely because of him needs to take a hard look at themselves. Alfred is an equally confusing pick - I still remember those posts from months ago where he was publicly wondering why Kaz wasn’t following him.

My bigger issue is that the $OPEN strategy no longer feels coherent. A few months ago we were told macro didn’t matter; now it seems like the narrative pivots every few weeks. I like the 3P concept, but the way it was covered in the Open House was surface-level at best. What does Opendoor actually want to be in 3+ years? What’s the intended product mix across 1P/2P/3P? Do they still want to be an iBuyer at all? At this stage those answers should be clear.

I also didn’t like how Kaz skipped critical pieces of information - Q4 contribution margin guidance, and any real narrative on the warrants and whether they’ll let them expire or extend them. The whole 'Open House' / new age dog and pony show has been heavily played up, but it isn’t working. There’s probably a reason almost every other company still runs a normal investor call.

[Juniper @888juniper]

@Narahari_N I don't agree with any of this. I don't see dilution or stock split in the near future

[Juniper @888juniper]

@Prometheus2025 @993tiptron @nejatian Agree with this 💯

[Juniper @888juniper]

@Kevin60162526 Thanks, helpful

[Juniper @888juniper]

@xErol_o3 Points #2 and #4 are likely. I agree regarding the others.

[Juniper @888juniper]

@10452km2 We wait patiently...