Why Opendoor Technologies Stock Slipped 12.5% In October

Shares of Opendoor Technologies (NASDAQ: OPEN) slipped 12.5% in October, according to data from S&P Global Market Intelligence. The online home-buying platform trades in line with mortgage rates on residential real estate loans, which rose in October back to 7%. After going public with much fanfare in 2020, Opendoor's stock has tanked because of its declining revenue and lack of profitability. Here's why Opendoor's stock sank once again in October.Opendoor's business proposition is to buy a home from people looking to sell and then put the home back on the market to sell to a willing buyer. It wants to take out all the hassle of buying an existing home, which can be a slog using the traditional process. The company needs homeowners looking to sell homes to make this business model work, though.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool