What Is the Highest Opendoor Stock Has Ever Been?

Key Points

• Opendoor Technologies is attempting to build a business that flips houses.

• Although house flipping has been around for years, it is normally something that small, local investors do.

• Opendoor has gotten a boost from meme stock investors and AI hype.

• 10 stocks we like better than Opendoor Technologies ›

Opendoor Technologies (NASDAQ: OPEN)stock has risen more than 500% so far in 2025. Most of that gain, however, has come in just the past three months, a period in which it is up over 1,500%! Surely this skyrocketing stock must be near its all-time highs? Not even close, which is a sign to tread with caution here.

A big idea that hasn't been proven just yet

The all-time high for Opendoor's stock came in 2021 when it peaked just shy of $36 per share. The current price, even after the huge rally, is a bit shy of $11 per share. So what's going on?

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Image source: Getty Images.

The core business is, basically, house flipping. That's not new, but it hasn't been done on an institutional scale yet. Opendoor is attempting to use technology to create scale in this housing niche. It has yet to turn a sustainable profit, which has investors justifiably worried that the business model just won't pan out as hoped.

The big news lately has been around the CEO. In August the old CEO stepped down, and in September a new CEO was announced, poached from Shopify (NASDAQ: SHOP). The new boss leaned into artificial intelligence, suggesting that AI will play a key role in the company's future. Notably, these executive shifts were helped along by activist investors known for being involved in the meme stock phenomena.

So the big moves here tap into both the AI and meme stock trends. But the fact that Opendoor remains so far below its all-time high is a warning to long-term investors that this business still has a long way to go before it has proven it is sustainable. Until the new CEO has some results to show, most potential investors will likely be better off watching this rocket ship from the sidelines.

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Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Shopify. The Motley Fool has a disclosure policy.