Meet the Unstoppable Stock That Obliterated Nvidia, Broadcom, and Advanced Micro Devices (AMD) Over the Last 12 Months With a 670% Return One year ago, Opendoor Technologies (NASDAQ: OPEN) stock was trading at just $0.51.
However, retail investors sparked a buying frenzy through social media platforms like Reddit and X (formerly Twitter), which sent the stock to a 52-week high of $10.52
It has since lost some momentum and closed at $4.73 last Thursday, June 18, but that still represents a 12-month return of 670%. That’s right, this real estate stock has crushed artificial intelligence (AI) semiconductor giants like Nvidia, Broadcom, and Advanced Micro Devices, which have returned between 44% and 323% over the last 12 months. However, here’s why investors probably shouldn’t chase the rally in Opendoor stock.
Opendoor has a risky business model Selling a home is one of the biggest financial decisions most people will ever make, so they usually hire a professional agent to manage the process. But not even the best agent can guarantee a sale, especially in this tough market, which is why many vendors have turned to Opendoor. A seller can enter a few details about their home on Opendoor’s website, and the company will provide a cash offer with a short settlement period.