Opendoor's First Profit Since 2022 Fails To Calm Investor Criticism Of CEO

Opendoor Technologies Inc. (NASDAQ:OPEN) shares remained choppy Tuesday, extending a volatile stretch fueled by earnings results and intensifying public criticism of CEO Carrie Wheeler.

The company has a 52-week high of $4.97 and a 52-week low of $0.51. Year-to-date, the stock is up roughly 45% and trades about 83.6% above its 50-day simple moving average.

Opendoor reported $1.6 billion in second-quarter revenue and its first quarter of adjusted EBITDA profitability since 2022, even as Wheeler acknowledged that housing market conditions “continued to deteriorate.”

Also Read: Opendoor Posts First Profit In 3 Years: Stock Plunges 25% After Hours As CFO Warns Of ‘Lower Clearance And Record Delistings’

Revenue rose 4% from a year earlier and 36% from the prior quarter, with 4,299 homes sold. ...