The closing price of Opendoor Technologies’ stock reached its highest level since August 2022 on Thursday.
As renowned bull Eric Jackson continues to support Opendoor Technologies Inc., the company’s shares increased by more than sixteen percent on Thursday.
According to Dow Jones Market Data, Opendoor shares (OPEN) finished at $5.96, the highest since they closed at $6.01 on August 15, 2022. The stock’s winning run now stands at five days.
In recent weeks, there has been a flurry of activity around the massively shorted name, which has caused the stock to soar and prompted similarities to previous meme-stock eruptions.
EMJ Capital founder Jackson, however, asserts that Opendoor is not a meme stock. On Thursday afternoon, he posted on X, “Tell me again it’s just another shooting star meme stock,” “THIS IS THE NUMBER ONE CULT STOCK WORLDWIDE.”
Jackson shared a photo of himself with Keith Rabois, a well-known venture capitalist and co-founder of Opendoor, whom he hopes will rejoin the board of the company.
As Jackson and other bulls had been demanding, the residential real estate e-commerce platform recently revealed that Chief Executive Carrie Wheeler was leaving her position. According to the corporation, the hunt for a new CEO is “well underway.”
Jackson posted on X on Tuesday that he had been asked to meet with Opendoor executives in San Francisco and then spent time with the board and corporate representatives.
“They knew EVERY idea you’ve shared with me on X,” he said. “They appreciate our zeal and perseverance. They are devoted to ensuring that the full worth of this business is achieved.
He expressed his desire for a board seat to the corporate representatives.
They also talked about Jackson’s recent efforts to get rap mogul Drake to purchase at least one Opendoor share, he wrote. In a video that was uploaded to X earlier this week, he stated, “Basically, for Drake and also for all of his fans, it would be sort of an eye-opener to how important the stock market is, how much of an opportunity it is to create generational wealth, and that’s a good thing.”
A request for feedback on Jackson’s post has not yet received a response from Opendoor.
To Jackson’s and other investors’ pleasure, the company just announced that it is supporting artificial intelligence.
Erik Gordon, a clinical professor at the Ross School of Business at the University of Michigan, told MarketWatch that he has doubts about Opendoor’s AI initiative.
In 2025, Opendoor’s stock has increased 274.6%, while the S&P 500 index has gained 10.5%.
The short interest rate is 24.3% of Opendoor’s total share float.
These are the equities that are most often shorted on US markets, according to BourseWatch data.
