Opendoor (OPEN) Stock Hits 52-Week Low as CEO Delays Profit Timeline by Six to Eight Weeks

TLDR

• Opendoor CEO Kaz Nejatian confirmed the company has not yet reached ANI break-even, pushing the profit timeline back six to eight weeks.
• The stock fell around 7% to $2.79, bringing its year-to-date decline to 51%.
• A sharp late-August housing downturn slowed home sales and kept delistings elevated.
• Q3 revenue is expected to grow 10%-15% year-over-year, with contribution profit up 70%-75%.
• Rising Treasury yields, now at a three-year high, are adding extra pressure on Opendoor’s inventory-carry model.

Opendoor Technologies (OPEN) stock dropped around 7% to $2.79 in Thursday trading, extending a slide that has now taken the stock down 51% year to date and to a fresh 52-week low.

Opendoor Technologies Inc., OPEN

The sell-off came after CEO Kaz Nejatian posted on X Wednesday, telling investors the company has not yet reached adjusted net income (ANI) break-even, and that the timeline has slipped by six to eight weeks from what was previously expected.

“There has been a lot of speculation lately about where Opendoor is on the path to ANI break-even, and I worry some folks think we are further ahead than we actually are,” Nejatian wrote.

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