NEW YORK, Dec. 28, 2025, 12:55 a.m. ET — Market closed
Opendoor Technologies (NASDAQ: OPEN) is heading into the weekend with traders focused on a familiar combination: big year-to-date gains, a sharp December cool-off, and a stock that still behaves like it’s one headline away from a volatility event.
OPEN shares finished Friday’s regular session at $6.01, with roughly 47.1 million shares traded, capping a holiday-thinned week that still delivered plenty of movement for one of 2025’s most hotly debated real-estate tech names. [1]
After the closing bell, the stock was indicated lower in late after-hours trading at $5.94 (as of 7:59 p.m. ET Friday), underscoring that sellers were still active heading into the weekend break. [2]
Because U.S. markets are closed Saturday and Sunday, the next key moment for investors is Monday’s session (Dec. 29)—when the market will decide whether Friday’s weakness was a quick shakeout… or the start of another leg lower in what’s already been a choppy December for OPEN.
What’s new in the last 24–48 hours: commentary turns cautious as OPEN loses altitude
In the most recent wave of coverage (past 24–48 hours), the dominant theme hasn’t been a fresh SEC filing or a new press release—it’s been analysis reacting to the stock’s late-month slide.
A widely shared note from The Motley Fool’s Keith Noonan argued that Opendoor’s meme-driven momentum has faded in December and that the stock’s pullback could continue into 2026. He also pointed to the broader meme-stock “rotation” dynamic—where attention can shift quickly from one retail favorite to the next—as a meaningful risk factor for OPEN. [3]
Noonan’s piece also ties Opendoor’s setup back to the housing backdrop, warning that sluggish housing activity could complicate Opendoor’s turnaround ambitions even as management emphasizes a more software- and marketplace-driven model. [4]
The bigger catalyst investors are still digesting: Homebuyer.com deal and the mortgage push
While the freshest headlines in the last day or two lean heavily toward analysis, the most important company-specific storyline investors are still pricing is Opendoor’s recent move to deepen its mortgage footprint via an acquisition.
A recent report highlighted that Opendoor’s Chief Growth Officer, Morgan Brown, disclosed in a post on X that the company is acquiring Homebuyer.com, a platform focused on helping consumers find mortgage options. In the same post, Brown said Homebuyer.com President Dan Green would join Opendoor as director of mortgage growth, adding: “We’re going to fix homeownership and that includes mortgage.” Financial terms and timing were not disclosed. [5]
Other market coverage has similarly framed the deal as a mortgage-services expansion move—strategically important because mortgages are one of the stickiest parts of the homebuying funnel, and controlling more of that funnel can improve conversion and economics if executed well. [6]
Strategy backdrop: “Opendoor 2.0,” AI messaging, and why the market still doesn’t fully buy it
Opendoor’s leadership has been trying to reframe the company from a capital-intensive home flipper into something closer to a software + marketplace business (less balance-sheet risk, more fee revenue, better scalability). That messaging shows up repeatedly in recent coverage.
TipRanks’ write-up points to CEO Kaz Nejatian emphasizing the pivot with the line: “We are refounding Opendoor as a software and AI company.” [7]
But the market’s skepticism is also visible in where many Street forecasts sit today: investors are being asked to believe in a model transformation while the stock remains highly sensitive to housing demand, rates, resale velocity, and sentiment-driven flows.
Wall Street forecasts: “Hold” consensus and price targets that imply a wide disagreement
Forecasts around OPEN remain unusually split—partly because the stock is coming off a massive rally earlier in 2025, and partly because the business model transition is still being validated.
A recent TipRanks summary says Opendoor carries a Hold consensus rating (based on a mix of Buys/Holds/Sells), with an average price target of $4.35, implying downside from current levels as assessed in that report. [8]
That “sidelined” posture (not a clear bullish consensus, not a total write-off) matches what many investors see in practice: OPEN trades less like a steady fundamentals story and more like a battleground between (1) believers in a platform/AI turnaround and (2) skeptics who see a housing-cycle-dependent operator with thin margins and historic losses.
Volatility check: short interest, options pricing, and why Monday could move fast
If you’re wondering why OPEN can feel like it has no “indoors voice,” the positioning data offers clues:
- Short interest: MarketBeat’s latest published snapshot lists about 116.6 million shares sold short, roughly 15.39% of the public float (report date Dec. 15). That’s enough to amplify squeezes and selloffs depending on the tape. [9]
- Options-implied volatility: One options snapshot pegged OPEN’s implied volatility around 81% as of Dec. 26, a sign the options market continues to price in big moves. [10]
- Technical posture: StockAnalysis data shows OPEN below its 50-day moving average and above its 200-day moving average, with an RSI reading in the high-30s—often interpreted as a “weak momentum / potentially oversold” zone, though not a guarantee of a bounce. [11]
In plain English: the ingredients for sharp swings are still on the table, even with the market closed this weekend.
What investors should know before the next session
With the exchange closed, the practical question becomes: what new information could hit before Monday’s open, and what levels matter if volume returns?
1) Watch whether $6 holds as a psychological line.
Friday’s regular-session close was $6.01, and the late after-hours print referenced by StockAnalysis was $5.94. If OPEN opens Monday below $6 and fails to reclaim it, that can become a sentiment trigger for short-term traders. [12]
2) Expect “headline sensitivity” around housing, rates, and affordability.
Even when there’s no Opendoor-specific news, OPEN tends to react to housing macro narratives—mortgage-rate chatter, demand indicators, and anything that changes expectations for transaction volume and resale speed. (That’s especially true when the stock is trading as a high-beta sentiment vehicle.)
3) Keep an eye on management/execution milestones—not just buzzwords.
Opendoor’s mortgage expansion narrative (via Homebuyer.com) is a strategy story right now. What could change the market’s conviction is evidence: product rollouts, funnel metrics, attach rates, or clearer economics on marketplace transactions. [13]
4) Know the next major scheduled catalyst: earnings.
According to Zacks’ earnings calendar listing, Opendoor is expected to report next on Feb. 26, 2026. That’s far enough away that near-term trading may stay sentiment-driven—but close enough that investors may begin positioning as January gets underway. [14]
The weekend takeaway for OPEN stock
Opendoor remains one of those fascinating market creatures: a company in the middle of a strategic reinvention, trading in a stock that still behaves like a social sentiment engine.
Going into Monday, the short-term setup is less about what happened at 4:00 p.m. Friday and more about what the market decides at 9:30 a.m. Monday: is this a dip that attracts buyers again, or a break that pulls in momentum sellers?
Either way, OPEN’s mix of heavy retail interest, meaningful short interest, and high implied volatility means investors should be prepared for a move that’s decisive—sometimes before the second cup of coffee. [15]
References
1. www.nasdaq.com, 2. stockanalysis.com, 3. www.fool.com, 4. www.fool.com, 5. www.tipranks.com, 6. sherwood.news, 7. www.tipranks.com, 8. www.tipranks.com, 9. www.marketbeat.com, 10. optioncharts.io, 11. stockanalysis.com, 12. www.nasdaq.com, 13. www.tipranks.com, 14. www.zacks.com, 15. www.marketbeat.com
