Opendoor Technologies shares surged as much as 32% to USD 5.00 on Friday, the highest level since January 2024, before the stock closed above the psychologically significant mark for the first time in 19 months. The rally followed Federal Reserve Chair Jerome Powell’s Jackson Hole remarks that opened the door to a possible rate cut in September, a move that would lower mortgage costs and could revive transaction volumes for the home-flipping platform. Opendoor is now up about 137% in 2025, outperforming every S&P 500 and Nasdaq-100 constituent. Roughly 24% of its 642 million outstanding shares are sold short, adding fuel to a squeeze-style jump that has drawn retail-trader attention typically reserved for so-called meme stocks. Despite the rebound, the San Francisco-based company remains almost 90% below its 2021 record, underscoring continued uncertainty around the housing market and the sustainability of the iBuyer model.