Real estate e-commerce stock Opendoor Technologies Inc (NASDAQ:OPEN) is surging amid renewed interest rate cut hopes, last seen up 15.5% to trade at $7.80 at last check. The security has added over 1,000% over the last six months, with help from a "meme stock" rally, optimism regarding newly appointed CEO Kaz Nejatian, and a massive shift toward AI. Though price movement has been choppy since its September three-year highs, with pressure at the $9.45 level, the equity is still a favorite with bulls.
Opendoor stock landed third on Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that attracted the highest options volume over the past two weeks. In the last 10 days, the stock saw 13,549,250 calls and 4,449,260 puts exchanged. The November 2 call was the most popular contract by far during this time.
Analysts are much more pessimistic, with 11 of the 12 in coverage carrying a "hold" or worse rating, while the 12-month consensus price target of $2.86 ranks at a 63.4% discount to current levels. A round of bull notes could give the stock a lift as well.
