What's Going On With Opendoor Technologies Stock Tuesday?

Opendoor Technologies Inc (NASDAQ:OPEN) shares are trading higher Tuesday as investors weigh the polarized debate surrounding the iBuyer’s future. Here’s what investors need to know.

• OPEN is demonstrating bullish strength. Check the fundamentals here.

What To Know: The movement higher in Opendoor shares on Tuesday follows a period of significant volatility for the real estate technology firm. Despite the relief bounce on Tuesday, shares are still down close to 20% over the past week.

Fueling the recent bearish sentiment, hedge fund manager George Noble recently lambasted the company as a “total clown show,” criticizing its “atrocious unit economics” and questioning its fundamental path to profitability.

Conversely, bullish investor Eric Jackson recently compared Opendoor’s potential to that of Tesla, suggesting it could ultimately capture 10% of the U.S. housing market by providing essential liquidity for sellers.

This standoff between bull and bear cases comes after the stock experienced a recent climb, partly fueled by the announcement of a full settlement in a derivatives lawsuit. For now, investors seem to be in a holding pattern, digesting the conflicting narratives about the company’s long-term viability.

Benzinga Edge Rankings: Underscoring its recent performance, Benzinga Edge rankings show an exceptionally high Momentum score of 98.93 contrasted by a low Growth score of 10.18.

OPEN Price Action: Opendoor Technologies shares were up 3.16% at $7.49 at the time of publication Tuesday, according to Benzinga Pro. The stock is trading within its 52-week range of 50 cents to $10.87.

Opendoor stock is above its 50-day moving average of $6.11, indicating a bullish trend. Key resistance is observed near the recent high of $7.42, while support can be identified at the 50-day moving average.

Read Also: Momentus Shares Are Moving Higher Tuesday: What’s Fueling The Momentum?

How To Buy OPEN Stock

By now you're likely curious about how to participate in the market for Opendoor Technologies – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

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