On Wednesday, Opendoor announced that Shopify’s Kaz Nejatian would be its new CEO and was a shoo-in for the role, with his background as an “AI-native executive” and experience building teams, products and companies at scale.
The day after the new CEO was announced at the embattled iBuyer, the company’s stock saw a huge reversal, surging about 65 percent by midday on Thursday to around $9.70 per share.
Credit: Yahoo Finance
One month ago on Aug. 11, Opendoor’s stock closed at $2.31 per share. By midday Thursday, the stock price was roughly 325 percent higher than that figure.
So, if an investor had invested $1,000 in Opendoor shares one month ago, today — assuming a price of $9.70 per share — that investor would have an extra $3,199 in their pocket.
Key investors like Opendoor cofounder and Chairman Keith Rabois and Canadian investor Eric Jackson celebrated the company win on X. Jackson has largely been spearheading a meme stock rally campaign, which first began back in mid-July.
“So thankful that the $OpenAArmy recognized the potential of $Open before any of the ‘experts,'” Rabois posted to X on Wednesday night.
“The road to $82 continues today,” Jackson wrote on X on Thursday with a meme of actor Jon Hamm meditating, referencing a stock price target he has been posting about for the past few months.
On June 25, 2025, Opendoor stock closed at a low of $0.51 per share. Investors who decided to buy shares that day may be raising a glass now. For those doing the math, an investor who bought $1,000 of Opendoor shares that day would have an extra $18,020 today.
$open investors and @ericjackson today after new board and ceo pic.twitter.com/VCC9dLTr8t
— Booolesh (@Booolesh) September 11, 2025
Investors appeared invigorated on Thursday, and a marker of 1 billion shares traded was well within sight by early Thursday afternoon, with a few hours of trading still to go. During the week of July 21, 4.2 billion shares traded.
Opendoor Technologies, Inc., went public on Dec. 21, 2020, by merging with a special purpose acquisition company (SPAC) called Social Capital Hedosophia Holdings II Corp. The stock opened at $31.47 on its first day of trading.
So, by contrast, investors who put their money all-in in 2020 may still be feeling a bit bitter. Those folks who put $1,000 into Opendoor at that time are now in the hole by about $690.
