Retail Traders Hand Opendoor The Meme Stock Crown

Hedge fund manager Eric Jackson and crypto investor Anthony Pompliano have both dismissed claims that Opendoor Technologies, Inc. OPEN is a meme stock. 

To retail investors, meme stock culture symbolizes more than chasing quick gains—it represents collective action and defiance against conventional Wall Street narratives. Are Jackson and "Pomp" missing the point? 

• OPEN stock is up over 40% in the past five days. See the real-time price action here. 

Retail Traders Speak Out 

On Wednesday, Benzinga asked viewers of the daily “PreMarket Playbook” show if Opendoor is a meme stock. Here are the results: 

Do you think OPEN is a meme stock? 

• 69% voted Yes. 
• 30% voted No. 

Read Next: Palantir Leads Tech Stock Slide: 52% Of Retail Investors Say No AI ‘Bubble’

What Is A Meme Stock? 

The term "meme stock" often refers to a stock that gains popularity not strictly based on fundamentals, but because communities of individual investors rally around them, often through platforms like Reddit, Discord and X. 

These groups of retail traders take pride in the community enthusiasm and narrative-driven movements behind under-valued companies that institutional investors often overlook. 

Opendoor, a company that exists in the disruptive industry of digital homebuying, naturally lends itself to grassroots, underdog energy.

The stock's value story is tied not only to fundamentals, but also to a broader belief in decentralization, disruption and optimism about future markets—especially housing. 

Missing the Point? 

Both Jackson and Pompliano have encouraged retail's power to move markets and challenge traditional finance, but they deny that Opendoor is a meme stock. 

Opendoor's "meme stock" status, and the community behind it, are giving the company a chance to shine through collective conviction rather than elite gatekeeping. 

And isn't that what Jackson and Pompliano are trying to promote? 

OPEN Stock Price: Opendoor Technologies shares were down 10% at $3.24 on Wednesday, according to data from Benzinga Pro. 

Read Next: 

• Retail Investors’ Top Stocks With Earnings This Week: Faraday Future, XPeng, Walmart And More 

Photo: Shutterstock