• Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
Stock

Opendoor stock soars on CEO change, AI pivot—can it mirror Carvana’s play?

by September 11, 2025
by September 11, 2025

Shares of residential real estate platform Opendoor Technologies surged about 40% in after-hours trading on Thursday after the company announced the appointment of Kaz Nejatian, the former chief operating officer of Shopify, as its new chief executive officer.

The move comes after weeks of speculation following the ouster of Carrie Wheeler in mid-August, a decision widely attributed to pressure from retail investors who have increasingly influenced the company’s direction.

Opendoor said it is doubling down on artificial intelligence while reinstating its founders on the board as it adapts to its new identity as a meme stock.

The company which has gained more than 260% so far this year, said Nejatian will guide the company into a new phase that emphasizes artificial intelligence and a return to founder-led leadership.

“Nejatian, a lawyer-turned-entrepreneur and product leader, is an AI-native executive with a track record of transforming products, teams, and companies at scale,” Opendoor said in a statement.

With Kaz Nejatian’s arrival, founders also reclaim influence on board

Alongside Nejatian’s arrival, co-founders Keith Rabois and Eric Wu will return to the company’s board of directors.

Rabois, a well-known venture capitalist and early technology investor, will assume the role of chairman.

The company said the move signalled a return to “founder mode” at a critical moment in Opendoor’s trajectory.

“Literally there was only one choice for the job: Kaz,” Rabois said in the announcement.

He added that Nejatian “understands the potential for AI to radically reshape a company’s entire operations.”

Board member Eric Feder echoed this view, saying that the return of the founders would help inject “founder DNA” and renewed energy into the business.

Nejatian himself said he saw significant opportunities to apply artificial intelligence to the real estate process, promising to make buying and selling a home “simpler, faster, and more certain.”

As part of its leadership shake-up, Opendoor disclosed that it had entered into securities purchase agreements with Khosla Ventures and co-founder Eric Wu to provide $40 million of new capital through a private investment.

From delisting threat to meme stock status

The leadership change caps a dramatic turnaround for Opendoor, which only a few months ago was facing the prospect of being delisted from the Nasdaq after its shares fell below $1 in May.

The company’s fortunes shifted in July, when it became the subject of viral attention online and won a wave of support from retail traders.

Investors on social media have compared Opendoor’s potential to companies like Carvana in the automotive space and Zillow in online real estate.

Its stock price tripled in that month alone, fuelled by endorsements from hedge fund manager Eric Jackson and discussions across social media platforms.

That momentum slowed in August after the company reported quarterly results that disappointed many of its new backers.

Critics argued that Opendoor was not moving quickly enough to capitalize on its sudden popularity, and calls grew louder for a management shake-up and greater focus on artificial intelligence.

Wheeler, who had led the company since 2022, stepped down on August 15.

Analysts see parallels with Carvana

Some analysts say Opendoor’s latest moves could put it on a path similar to other disruptive e-commerce platforms.

Zacks Investment Research noted that, while Opendoor remains speculative, it is also innovative, drawing comparisons with Carvana’s rapid ascent in the auto sector.

“If Opendoor can successfully replicate the Carvana playbook in the real estate sector, it can disrupt a massive market,” the firm said.

With Thursday’s after-hours surge, Opendoor’s market capitalization has climbed to nearly $6 billion, up from less than $400 million just three months ago.

The company’s leadership reset, focus on artificial intelligence, and continued retail investor enthusiasm suggest it is preparing to enter a new and uncertain chapter in its bid to redefine the housing market.

The post Opendoor stock soars on CEO change, AI pivot—can it mirror Carvana’s play? appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
Europe markets open: Stoxx 600 flat as markets brace for ECB decision
next post
 Here’s why Japan’s Nikkei 225 Index just hit a record high

Related Posts

Cyberattack halts Asahi production, disrupts Japan’s beer supply

October 3, 2025

Europe markets open: Stoxx 600 rises 0.4%, extending...

October 3, 2025

Bitcoin ETFs see over $600M in inflows as...

October 3, 2025

Stockholm leads Europe in IPO activity with $6.8...

October 3, 2025

Indonesia suspends TikTok licence after data refusal during...

October 3, 2025

Why the Thai baht’s climb against US dollar...

October 3, 2025

OpenAI valuation hits $500 billion as employees sell...

October 2, 2025

Here’s why JPMorgan, Morningstar are bullish on Alibaba...

October 2, 2025

Europe markets open: Stoxx 600 jumps 0.6%, led...

October 2, 2025

Will the Tesco share price hit 500p as...

October 2, 2025

Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.

By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

Recent Posts

  • What I Saw in Milei’s Argentina

    October 3, 2025
  • Tariffs Rest on Distrust of Citizens

    October 3, 2025
  • Cyberattack halts Asahi production, disrupts Japan’s beer supply

    October 3, 2025
  • Europe markets open: Stoxx 600 rises 0.4%, extending its record-setting rally

    October 3, 2025
  • Bitcoin ETFs see over $600M in inflows as BTC price nears $120K

    October 3, 2025
  • Stockholm leads Europe in IPO activity with $6.8 billion raised

    October 3, 2025

Editors’ Picks

  • 1

    Meta executives eligible for 200% salary bonus under new pay structure

    February 21, 2025
  • 2

    Walmart earnings preview: What to expect before Thursday’s opening bell

    February 20, 2025
  • 3

    New FBI leader Kash Patel tapped to run ATF as acting director

    February 23, 2025
  • 4

    Cramer reveals a sub-sector of technology that can withstand Trump tariffs

    March 1, 2025
  • 5

    Anthropic’s newly released Claude 3.7 Sonnet can ‘think’ as long as the user wants before giving an answer

    February 25, 2025
  • 6

    Nvidia’s investment in SoundHound wasn’t all that significant after all

    March 1, 2025
  • 7

    Pop Mart reports 188% profit surge, plans aggressive global expansion

    March 26, 2025

Categories

  • Economy (2,770)
  • Editor's Pick (279)
  • Investing (185)
  • Stock (1,885)
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Read alsox

S&P 500 Index: Time to sell the...

May 2, 2025

Wendy’s shares in green despite lower profit...

August 9, 2025

Indian refiners boost US crude purchases as...

August 29, 2025