Shares of meme proptech companies Opendoor Technologies Inc. (NASDAQ:OPEN) and Offerpad Solutions Inc. (NYSE:OPAD) saw a sharp increase in after-hours trading on Wednesday. Opendoor's stock surged 10.33%, reaching $9.08, while Offerpad’s climbed 4.95%, hitting $4.45. This rally followed positive housing sales data for August and the news that Jane Street Group had acquired a significant stake in Opendoor.
Check out the current price of OPEN stock here.
Both stocks have delivered strong 2025 gains, with OPEN up 414.38% and OPAD gaining 48.77%.
OPEN Soars on Jane Street Disclosure
In a Schedule 13G filing, Jane Street Group revealed that it holds 44,031,310 shares of Opendoor, which accounts for a 5.9% stake, indicating strong institutional confidence in the stock.
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Housing Market Data Fuels Rally
August’s new home sales are a major driver, reaching 800,000 units at a seasonally adjusted annual rate. Sales jumped 20.5% from the previous month and 15.4% year-over-year. The median price for new homes rose to $413,500, which could boost margin expansion opportunities for iBuyer platforms.
Offerpad Rides Sector Wave
The Arizona-based iBuyer platform benefits from the same housing trends that are fueling Opendoor’s momentum, with both companies well-positioned to take advantage of higher transaction volumes.
Check out the current price of OPAD stock here.
Market Outlook
Robust demand in the housing market boosts both platforms by driving up transaction volumes, increasing revenues, and widening margins.
Price Action: According to Benzinga Pro data, OPEN closed at $8.23 on Wednesday, up by 16.24%.
Benzinga’s Edge Stock Rankings highlight Opendoor with an exceptional momentum score of 98.98. This score reflects a strong positive price trend across all timeframes, including short, medium, and long term, outpacing other real estate sector peers like Offerpad.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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