Opendoor Technologies Inc. (ticker: OPEN) has experienced notable volatility and increased trading activity in recent days, with its stock price fluctuating between approximately $4.20 and $5.87. The company’s shares recently closed above the $5 psychological resistance level, sparking speculation of a potential short squeeze reminiscent of the 2021 GameStop event. Trading volumes have surged, with $750 million worth of OPEN shares exchanged within a 20-minute span. Analysts and traders have identified key price targets at $5.87, $6.00, and $8.00 to $10.00, with some bullish projections even suggesting a potential rise to $82, though such forecasts remain speculative. Technical analysis indicates critical support levels around $3.00 and $4.00, with concerns that a drop below $3 could lead to significant losses for many investors who purchased above that price. The stock has delivered a 215% year-to-date gain, leading to discussions about whether Opendoor represents the future of real estate technology or a speculative bubble. Market participants emphasize the importance of volume and price acceleration to sustain the upward momentum.
$OPEN #OPEN Lets do this Board! https://t.co/0zEWb33tbn
$OPEN important that we show acceleration up tomorrow with volume. Today's pullback on very light volume #OPEN https://t.co/SNINZp0EI0
$OPEN Opendoor Technologies - At Support Price Targets: $5.87, $8.13 OPEN continues to work within a widening wedge and is currently at support. Currently holding at support today. If we move lower, next level of support is $3.00. Price Targets are $5.87 to challenge local https://t.co/e04yDeIfGX