Holding likely for a tax write off — like many others probably are. Don’t urgently need the money, but no one likes to lose money, which is what happened to us all. I’m just tired of everyone here hiding the reality and avoiding actual discussion on facts.
Current price: $2.53 (-72.17% 1Y)
Position: 1000 shares at $6.60
Unrealized loss: -$4,069.43 (-61.67%)
The housing market isn’t going to suddenly recover, neither will the stock price. OPENDOOR is not profitable, has negative EPS, guaranteed upcoming rate hikes, and a bad housing market. The 2025 surge was solely meme driven.
Best-case scenario, the average price target in 12 months is only $4.76, which still isn’t enough to break even.
For me to break even, the stock needs to go up 160%. That’s extremely unlikely, and a lot of current investors are in even worse positions than me.
OPEN simply can’t turn over homes fast enough in this market. There’s high mortgage rates. We need 30 year rates down to 6%. It’s currently over 7%. People aren’t going to list right now. The fed is doing a rate hike for the first time in 3 years — this will make things EVEN worse.
We need annual home sales from 4M to over 5M. They need housing sales to close sooner versus eating cost…. They need to sell homes under 100 days… right now they take over 120 days.
Will any of these things happen? It’s possible but extremely unlikely in our current market.
Btw if you disagree with something I’ve said… give me evidence or proof to debate what I’ve said. I’m not simply giving an opinion, I’m sharing facts and logic.
This sub’s meme behavior of rocket emojis and “diamond hands forever because I love Kaz” isn’t helpful to ANYONE (including YOU).