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Opendoor’s Wild Swings Spotlight New Meme-Stock Trading Craze

Homes in Atlanta, Georgia.
Photographer: Elijah Nouvelage/Bloomberg

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By Patrick Clark and Norah Mulinda

July 22, 2025 at 9:14 PM UTC

Opendoor Technologies Inc. was a poster child for the froth in special purpose acquisition companies when it went public in 2020, backed by so-called SPAC King Chamath Palihapitiya.

These days, after a blistering rally powered by retail traders that cooled Tuesday, some are wondering if the tech-powered home flipper is an emblem of the latest meme-stock craze.