May latest feedback from CNBC’s Jim Cramer really be pushing Opendoor inventory increased?
Opendoor (OPEN 6.34%) inventory is seeing substantial positive factors in Thursday’s buying and selling. The iBuying actual property firm’s share worth was up 4.1% as of 1 p.m. ET and had been up as a lot as 11.7% earlier within the session.
After huge sell-offs in Tuesday’s and Wednesday’s day by day classes, Opendoor inventory is seeing some restoration momentum in as we speak’s buying and selling. Whereas there aren’t any clear-cut, business-specific catalysts behind the transfer, there are a few elements that might be taking part in a task within the firm’s positive factors as we speak.
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Opendoor inventory rises as Q2 GDP is available in increased than anticipated
The U.S. Commerce Division printed gross home product (GDP) information for this yr’s second quarter this morning, and progress got here in stronger than anticipated. U.S. GDP grew at a 3.3% annual price in Q2, topping the typical economist forecast’s name for progress of three% within the interval. Whereas the true property market has been seeing some blended indicators these days, stronger GDP progress might assist help residence gross sales and create a extra favorable working backdrop for Opendoor.
Did Opendoor inventory inadvertently get a lift from Mad Cash‘s Jim Cramer?
In yesterday’s episode of Mad Cash on CNBC, host Jim Cramer mentioned that Opendoor was a “meme inventory” and mentioned that he would not be leaping into the inventory in hopes of cashing in on the surge in bullish momentum it is seen this yr. As of this writing, the inventory is up 164% throughout 2025’s buying and selling.
Whereas Cramer’s feedback on the inventory might come throughout as adverse or ambivalent, they might have additionally had the impact of bringing extra consideration to the corporate. Moreover, many meme-stock merchants appear to have a adverse view on the Mad Cash host’s protection typically — and a few deliberately make trades which are opposite to his positions. Then again, Opendoor has been inclined to creating huge strikes on little or no information not too long ago — so it is inconceivable to definitively state that the inventory’s latest function on Cramer’s present is a driving consider its transfer as we speak.
Keith Noonan has no place in any of the shares talked about. The Motley Idiot has no place in any of the shares talked about. The Motley Idiot has a disclosure coverage.
