Opendoor (OPEN) Climbs 10.45% as Jane Street Stake Increase Sparks More Buys

We recently published Massive Gains: 10 Stocks Investors Can’t Stop Buying. Opendoor Technologies Inc. (NASDAQ:OPEN) is one of the top performers on Thursday’.

Opendoor extended its rally to a second day on Thursday, jumping 10.45 percent to close at $9.09 apiece, as investors continued to cheer its investment support from Jane Street that saw the company raise more than $300 million in fresh funds.

According to a regulatory filing, Jane Street acquired 44 million shares in the company, representing a 5.9 percent stake. It clarified, however, that there were no activist plans in relation to the purchase.

Jane Street’s investment reflected a vote of confidence that followed leadership changes aimed at the company’s turnaround and revival from losses.

Earlier this month, Opendoor Technologies Inc. (NASDAQ:OPEN) announced the return of its two founders, Eric Wu and Keith Rabois, as well as the appointment of Kaz Nejatian as its new chief executive officer (CEO).

The leadership reshuffle followed the resignation of former CEO Carrie Wheeler, after mounting calls from Opendoor Technologies Inc.’s (NASDAQ:OPEN) investors for the return of its founders.

As compared with Rabois, who is more aggressive in his business strategy, Wheeler was said to be more conservative and reactive.

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Disclosure: None. This article is originally published at Insider Monkey.