Ad News Live
September 11, 2025
Open Door Stock Price Surging: Opendoor shares soared 60% on Thursday. The spike followed the announcement that Shopify executive Kaz Nejatian will take over as CEO.
Co-founder Keith Rabois is stepping in as chairman. The stock, popular among retail investors, climbed to a new 52-week high.
So far this year, it has delivered a gain of more than 400%, marking an extraordinary run. Carrie Wheeler left her role as CEO last month.
READ ALSO
Boeing Annual Loss Shocks: $11.8B in One Year
The move came after heavy investor pressure, including pointed remarks from Keith Rabois and hedge fund manager Eric Jackson.
Jackson has been instrumental in Opendoor’s comeback this year. He first built a strong following on X with his successful Carvana bet. Now, he has shifted his focus to promoting Opendoor’s revival.
On Wednesday, Opendoor said it is “going into founder mode.” As part of the shift, Keith Rabois and Eric Wu are returning to the board.
Wu, who served as the company’s first CEO, left the role in 2023. Opendoor entered the public market in 2020 through a SPAC listing.
READ ALSO
Nothing Phone 3a: The $400 Smartphone Shaking Up Tech!
Its business centers on using technology to purchase and resell homes, earning revenue from the margins.
Nejatian said the company will lean on artificial intelligence to transform the home-buying and selling experience.
The aim is to make it simpler, quicker, and more predictable. Earlier this year, Opendoor’s stock fell to $1.
That slump put the company at risk of losing its Nasdaq listing.
Follow Us
AD News Live
