Opendoor Technologies, Inc. (NASDAQ:OPEN) shares climbed Monday as retail investors continued a massive rally and social media buzz suggested a famous comedian is buying into Opendoor.
- OPEN stock is climbing. See the real-time price action here.
"You Can Do It!"
On Sunday evening, leader of the "OPEN Army" Eric Jackson hinted that a celebrity will announce their support of Opendoor on Monday.
"Not Drake, but we have a significant comedian buying OPEN announcement coming tomorrow," Jackson posted on X.
A few hours later, comedian Rob Schneider quoted Jackson's post, adding "Shhhhhhh…
Let me BUY it FIRST!!!!"
Jackson followed up with another post that seemed to confirm Schneider as the mystery comedian investor.
"Ladies and germs… Welcome to the OPEN Army!!!," Jackson wrote with emojis pointing down to Schneider's quoted post.
There was no official confirmation of an investment from Schneider, but the online hype added fuel to Opendoor's recent surge.
Retail investors, led by voices such as Anthony Pompliano and Jackson, are optimistic about the company’s turnaround potential and have pushed Opendoor higher on exceptionally high trading volumes and "meme stock" behavior.
Market chatter has also been fueled by growing anticipation that Federal Reserve interest rate cuts could improve the real estate market and benefit Opendoor's iBuying and home resale business model.
Opendoor stock has gained 170% over the past month and is up more than 1200% from its 52-week low of 51 cents reached on June 26.
OPEN Price Action: Opendoor Technologies shares were up 8% at $7.18 at the time of publication on Monday. The stock is trading at a new 52-week high, according to Benzinga Pro data.
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