Why Opendoor Technologies Stock Skyrocketed 142% in August

After breaking out in July, Opendoor Technologies (NASDAQ: OPEN) soared again in August, climbing on the thesis that the business would turn around on new signs that the Fed would cut interest rates. Investors also reacted positively to news that CEO Carrie Wheeler would be stepping down, showing hopes that a new leader could help drive a turnaround.That general momentum was able to overcome a weak second-quarter earnings report, and the stock is now up nearly 1,000% since it bottomed out in early July.According to data from S&P Global Market Intelligence, the stock jumped 142% over the course of the month. As the chart shows, it was a volatile month for Opendoor, but the upward movements clearly outnumbered the pullbacks.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool