Stock Market Today, July 2: Opendoor Slips as Housing Rebound Hopes Run Into Margin Pressure
Opendoor’s inclusion in the Russell 3000 may account for increased trading volume. The next key challenge is whether inventory improvements can drive higher resale margins and a clearer path to adjusted EBITDA breakeven.
Overview
Opendoor Technologies (NASDAQ:OPEN), a digital residential home buying and selling platform, closed at $4.90, down 0.81%. Broader tech selling pressured the shares, and investors are watching chip and AI momentum for signs of stabilization.
The company’s trading volume reached 89.5M shares, which is roughly 112% above its three-month average of 42.2M shares.
Details
The S&P 500 (SNPINDEX:^GSPC) fell 0.07% to 7,473.24, unchanged from the previous session. The Nasdaq Composite (NASDAQINDEX:^IXIC) dropped 0.80% to 25,832. Among U.S. residential real estate technology and online home-buying/selling services peers, Z closed at $33.43, up 1.24%, and Compass finished at $12.62, up 0.60%, showing firmer trading than Opendoor Technologies during the session.
Source
Originally published at www.fool.com.