Why Opendoor Technologies Stock Plunged Today

·2 min read
Why Opendoor Technologies Stock Plunged Today

Shares of Opendoor Technologies (NASDAQ: OPEN) have plunged today, down by 11% as of 12:15 p.m. EDT, after the company reported first-quarter earnings. Opendoor went public last year by merging with a special-purpose acquisition company (SPAC), and investors have been shunning anything remotely related to SPACs in recent months. Opendoor purchased a total of 3,594 homes during the quarter and sold 2,462 units.

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