Opendoor Technologies (OPEN) Skyrockets 43% as Investors Push Price Up Amid Delisting Concerns

We recently published 10 Resilient Stocks Defying Market Sentiment. Opendoor Technologies Inc. (NASDAQ:OPEN) is one of Monday’s biggest gainers.

Opendoor Technologies soared for a sixth consecutive day on Monday, adding 42.67 percent to close at $3.21 apiece as investors scrambled to push its share price higher amid concerns about potential delisting.

The rally followed a notice from the Nasdaq on May 28 that it failed to maintain its bid price requirement of $1, and that it had 180 days or until November 24 to regain compliance.

Under the rules, the company needs to maintain a $1 bid price for 10 consecutive days to remain a publicly listed company; otherwise, it could face delisting.

Monday’s close marked the fifth straight day for Opendoor Technologies Inc. (NASDAQ:OPEN) to trade above the minimum bid price, having climbed the said level on July 15 after trading below the figure between April 14 and July 14.

Companies typically announce developments that could boost investor confidence or conduct reverse stock split activities to bolster share prices.

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