Opendoor (OPEN) Extends Rally on Rate Cut Benefits

We recently published 10 Stocks Beating Wall Street at its Own Game. Opendoor Technologies Inc. (NASDAQ:OPEN) is one of the top performers of Tuesday.

Opendoor Technologies bounced back on Tuesday, adding 16.3 percent before paring gains to close at $4.7 apiece, as investors continued to cheer the Federal Reserve’s looming interest rate cuts and its expected benefits to the company.

Shares of Opendoor Technologies Inc. (NASDAQ:OPEN) have spiked up since last week after the US central bank said it could begin slashing rates beginning next month, sparking rosy prospects for the interest-sensitive residential market.

Opendoor Technologies Inc. (NASDAQ:OPEN), a real estate technology company that resells residential properties, is expected to benefit from the move on lower borrowing costs for prospective homebuyers.

In recent news, Opendoor Technologies Inc. (NASDAQ:OPEN) announced the immediate resignation of CEO Carrie Wheeler, who took over the role in 2022 but failed to reassure investors of the ongoing turnaround efforts. She was temporarily replaced by chief technology officer Shrisha Radhakrishna while a permanent CEO has yet to be named.

While we acknowledge the potential of OPEN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.