Meme Rally Sparks Opendoor (OPEN) Jump by 62.6%

We recently published 10 Double-Digit Winners You Wish You Bought Yesterday. Opendoor Technologies Inc. (NASDAQ:OPEN) is one of the last week’s top performers.

Opendoor Technologies saw its share prices jump by 62.6 percent week-on-week, in what appeared to be a meme rally amid the lack of fresh catalysts to spark buying appetite.

Additionally, investors appeared to have taken path from a transaction triggered by a prominent crypto investor and podcast host, who announced on social media on Wednesday that he had personally acquired shares in Opendoor Technologies Inc. (NASDAQ:OPEN).

“I believe retail investors are a powerful force in financial markets. They can help a company grow, generate new ideas, and bring valuable attention to a narrative,” said Anthony Pompliano, who serves as CEO of ProCap Acquisition Corp. and a former employee of Meta Platforms.

Pompliano also owns a podcast called The Pomp Podcast and a YouTube channel under his name, where he discusses topics about crypto, business, and investing. To date, his channel has more than 624,000 subscribers.

Meanwhile, Opendoor Technologies Inc. (NASDAQ:OPEN) recently regained compliance from the Nasdaq after it notified the company earlier this year of its failure to meet the $1 minimum bid price requirement to stay listed.

The issue was resolved after Opendoor Technologies Inc. (NASDAQ:OPEN) announced on August 1 that it had successfully traded above the minimum level for 12 consecutive days from July 15 to 30.

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