Opendoor Technologies Inc. ($OPEN) is experiencing increased attention and enthusiasm from retail investors, particularly within the global Chinese community. The company recently aired an advertisement on CNN, signaling a broader marketing push. Shrisha Radhakrishna, President of Opendoor, purchased 30,000 shares valued at approximately $128,300, leading to a 2.2% increase in the stock price after hours to $4.36. Additionally, the company canceled a planned 10b5-1 stock sale at 56 cents per share, which was perceived as detrimental to retail investors. This move has been interpreted as a response to retail investor activism and a demonstration of leadership’s commitment to long-term alignment with shareholders. There is also speculation about a potential Super Bowl advertisement to further capitalize on the stock's popularity among retail investors worldwide.
Wow. $OPEN leadership just listened to retail activism and is putting monetary skin in the game. Long-term alignment is the first step to building a monster business. https://t.co/r2NpqJC4uq
Huge! He BOUGHT $140k worth of stock on the open (sorry) market and CANCELLED the 10b5-1 Carrie dumping at 56 cents a share on retail investors plan!!! https://t.co/S2ODaf5lGk
Opendoor Technologies $OPEN President Shrisha Radhakrishna purchased 30K shares worth $128.3K, boosting investor confidence. Shares rose 2.2% after hours to $4.36.