Buying a House on Opendoor Is as Easy as Deciding to Buy OPEN Stock

Opendoor (NASDAQ:OPEN) surged higher after the iBuying company experienced an absolutely stellar second quarter. This broadly underscores the fact that OPEN stock is flawlessly executing its goal to redefine the home shopping experience.

A picture of the OpenDoor (OPEN) app on a phone.
Source: PREMIO STOCK/Shutterstock.com

The numbers speak for themselves.

Opendoor sold nearly 3,500 homes in the quarter, which is up 42% sequentially. As far as average sale prices on those homes, those rose 12%. Total revenues shot up 59%.

Basically, the stock is trading up roughly 25% today, because all of those numbers were much better than expected.

And not only that, Opendoor’s successful quarter proves that, in the wake of Covid-19, consumers are much more open to the idea of buying and selling homes online.

Another Market Gets Digitized

Mark our words: a majority of the home shopping process will be digitized over the next 10 years. A majority of retail shopping has been digitized over the past 10 years, and the same exact thing will happen with respect to home buying and selling.

Also worth noting is the fact that Opendoor bought nearly 8,000 homes in the second quarter. That’s a huge number, especially considering the current state of the housing market.

With sellers controlling the market, home sellers have been able to sell their homes at massive premiums due to bidding wars in the open market.

And Opendoor was able to purchase 8,000 homes — with 8,000 more under contract at the end of the quarter — over the course of three months, in that environment.

This just goes to show that consumers are clearly voting with their wallets in favor of Opendoor’s faster, more certain, more flexible home selling platform.

Not to mention, Opendoor’s margins were great in the quarter. Adjusted EBITDA margins hit 2.2%, and they were supposed to be negative.

And while some of this overperformance is due to rapid home price appreciation, a large chunk of it is due to structural cost improvements that Opendoor has executed. These improvements will stick around long after this housing boom ends.

The Bottom Line on OPEN Stock

All in all, these numbers tell us one thing — Opendoor is taking over the housing market.

Forget the near-term price action. Wall Street is notoriously short-sighted and always misses the biggest opportunities.

Just focus on the fundamentals here — Opendoor has created a faster, more flexible, more certain and ultimately better way to buy and sell homes.

This new and improved way is gaining significant traction at the moment, and it’s really only a matter of time before this company redefines the national housing market.

OPEN stock has huge upside potential from current levels.

But there are seven other small-cap stocks with even greater exponential wealth-building potential, which I believe could change your life.

I’ll tell you how to gain instant access to the names, ticker symbols, and key business details of these exciting startups at my 1 to 30 Wealth Summit – tonight at 7 p.m. ET.

I urge you to join me. It’s 100% free… and all you have to do is click here to let me know that you’re coming.

During that event, I will also unveil a full portfolio of seven hypergrowth technology stocks that I feel represent the next-generation of tech stock “super winners” – each of which I feel has at least 30X upside potential.

We are only hours from that event…

Which means we are only hours from you potentially changing your life forever by investing in the next generation of tech superpowers, while many of them are still trading for less than $20…

I hope to see you tonight! If you haven’t already signed up, please do so now. It’ll be one for the ages.

P.S. Time is running out!

In less than 12 hours, I will let you in on a brand-new portfolio of hypergrowth stocks set to change the technology world as we know it. I’m incredibly bullish on each, and I’m not the only one…

Legendary growth investor Louis Navellier is also joining me at the 1 to 30 Wealth Summit, and he’s so on board with my vision that he’s investing $100,000 of his own money into my new portfolio.

If that’s not a vote of confidence, I don’t know what it.

Clear your schedules and join Louis and me tonight at 7 p.m. ET. This is a discussion you do not want to miss.

On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/hypergrowthinvesting/2021/08/buying-a-house-on-opendoor-is-as-easy-as-deciding-to-buy-open-stock/.

©2022 InvestorPlace Media, LLC