Opendoor Technologies Inc Stock Price, News & Analysis

Opendoor Technologies Inc. (Nasdaq: OPEN) announced that CEO Eric Wu and CFO Carrie Wheeler will present at the Citi Global Technology Virtual Conference on September 14, 2021, at 4:20 PM ET. The presentation will be accessible online at investor.opendoor.com. Founded in 2014, Opendoor aims to simplify the process of buying, selling, or trading homes across various U.S. markets.

On August 18, 2021, Opendoor Technologies Inc. (Nasdaq: OPEN) announced the pricing of an offering of $850 million in 0.25% convertible senior notes due 2026. This amount was increased from an initial size of $750 million. The notes, expected to settle on August 20, 2021, will accrue interest at 0.25% per annum, with semi-annual payments starting February 15, 2022. Opendoor estimates net proceeds of $827.9 million, intended for corporate purposes and capped call transactions. The initial conversion price is set at $19.23 per share, a premium of 30% over the last sale price of $14.795 on August 17, 2021.

Opendoor Technologies Inc. (Nasdaq: OPEN) announced a private offering of $750 million in convertible senior notes due 2026, with an option for initial purchasers to buy an additional $112.5 million. The notes are senior unsecured obligations, accruing interest semi-annually, and can be converted under specific conditions. Proceeds will fund capped call transactions and general corporate purposes. The offering is subject to market conditions and the notes are not registered under the Securities Act. This update aligns with Opendoor's mission to simplify residential real estate transactions.

Opendoor Technologies Inc. (Nasdaq: OPEN) reported robust Q2 2021 results, with revenue soaring to $1.2 billion, up 59% from the previous quarter. The company acquired a record 8,494 homes, a 136% increase, and delivered adjusted EBITDA of $26 million, a significant recovery from a loss last quarter. Gross profit reached $159 million, marking a 64% rise. Opendoor’s outlook for Q3 2021 anticipates revenue between $1.8 billion and $1.9 billion, indicating strong momentum in the real estate sector.

On July 26, 2021, Opendoor Technologies Inc. (Nasdaq: OPEN) announced the completion of the redemption of all outstanding Public Warrants at a price of $0.10 each, triggered by the Common Stock's reference value exceeding $10.00 per share for twenty trading days. Approximately 97% of 13,799,947 Public Warrants were exercised, generating over $22 million in cash proceeds. Concurrently, 100% of the Private Warrants were also exercised. Following the redemption, Public Warrants were delisted from Nasdaq, while Common Stock remains unaffected and continues trading under symbol 'OPEN.'

Opendoor Technologies Inc. (Nasdaq: OPEN) will report its second quarter 2021 financial results on August 11, 2021, after market close. Following the release, management will host a conference call at 2:00 p.m. PT to discuss the results. This call will be accessible via a live webcast on the investor relations site. Opendoor aims to revolutionize real estate transactions, offering an innovative platform for buying, selling, or trading homes across the U.S. More details can be found on their official website.

Opendoor Technologies Inc. (Nasdaq: OPEN) announced the redemption of all outstanding Public and Private Warrants to purchase shares of its Common Stock. The redemption price is set at $0.10 per Warrant, effective July 9, 2021. This move is triggered as the last sales price of the Common Stock is less than $18.00. Holders can exercise Warrants at $11.50 per share or on a cashless basis. Unexercised Warrants will become void post-redemption. The Company emphasizes that it does not provide recommendations regarding exercising the Warrants.

Opendoor Technologies Inc. (Nasdaq: OPEN) reported remarkable growth in Q1 2021, with Total Homes Sold reaching 2,462, a 190% increase compared to Q4 2020. Total Revenue hit $747 million, up 200% year-over-year. GAAP Gross Profit stood at $97 million, reflecting 13% of Total Revenue. CEO Eric Wu highlighted the company's strong momentum and customer satisfaction, with an NPS over 80. Opendoor exceeded its Q1 guidance and achieved record metrics in offer requests and market launches.

Opendoor Technologies Inc. (Nasdaq: OPEN) announced it will report its first-quarter 2021 financial results on May 11, 2021, after market close. The company will hold a conference call at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results. Opendoor has been a significant player in the digital residential real estate market since its inception in 2014, offering simplified buying, selling, and trading services for homes across the U.S. For further details, the live webcast will be available on the investor relations page of Opendoor's website.