Kohl’s stock soars and Opendoor sees massive volume
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Meme stock mania returns
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Opendoor Technologies has recently gained favor as a meme stock and seen incredible valuation gains, but the company's share price is pulling back today as investors take profits on recent gains. Despite big sell-offs in today's session, the stock is still up 330% over the last month.
Retail investors have begun to pile into speculative bets on small-cap companies in a buildup that resembles the meme stock frenzy of 2021.
The ticker $OPEN has been heavily cited on WallStreetBets, the online forum behind the infamous GameStop mania in 2021.
No one knows where Opendoor stock is headed in the short term, though volatility seems guaranteed. Volatility does create opportunity, but it also increases the risk for catastrophic losses as existing shareholders have experienced with the stock down more than 20% on July 23.
Opendoor stock gains 42% in wild day after doubling early Monday as volatility triggers trading halt
Penny stock iBroker platform Opendoor's share price rose by 24% in pre-market trading Monday morning, continuing last week gains of 188%.
Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.
Shares of Opendoor Technologies ( OPEN -10.44%) have caught fire in the last month. Driven by investors posting online about buying the penny stock, it is now up 325%, with most of the gains coming in the past week.
Trump Media rose in premarket trading on Tuesday after the company announced it had accumulated $2 billion in bitcoin and related assets.