$OPEN down b/c a respected hedge fund manager is attacking its valuation + itβs sharing the limelight with $BETR now, which is up and being promoted by the same retail crowd that supports OPEN.
These swings are common for a stock in the meme/retail crosshairs.
My thoughts:
1) the value attack on Opendoor is legitimate, but misunderstands the potential of an Opendoor turnaround into an AI market maker for housing. Iβm not worried about it.
2) I donβt like the fact the BETR is pumping while OPEN is dumping - implies some people are moving on to the βnext hot thingβ. But I think this dynamic will pass.
I maintain my thesis which is that Opendoor is a long-shot with high potential upside in the event management successfully transforms the company into an AI market maker for housing. Odds of success remain low, but are climbing with recent changes and feel βgood enoughβ at the current moment. Still, donβt be surprised if this one flops and drops back to $1. Remain logical. Donβt get emotional. Continue to view as a long shot / lottery ticket play. Not for lunch money imo.