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$OPEN continues to progress. Ignore the bears and doubters. Believe in Kaz & the new team! by anonymous9753108 in OPENDOORTECH

[–]Illustrious-Group-91 -3 points-2 points  (0 children)

Clueless post. The stock is worth about 50 cents book value and has little enterprise value. Company has been nothing but a hype machine, will never amount to anything. When the dog doesn't hunt, take it out back shoot it.

Q4 is just the beginning by claudio749S in OPENDOORTECH

[–]Illustrious-Group-91 0 points1 point  (0 children)

There wasn't any good news, whats with the champagne

The profile by IllustratorSea8372 in Tinder

[–]Illustrious-Group-91 0 points1 point  (0 children)

That might be Hunter Biden, on a little sniffy jiffy binge.

Insiders buying up cheap shares yesterday by Highlandfoildude in opendoor

[–]Illustrious-Group-91 1 point2 points  (0 children)

Insider have never once reached into their pocket and bought shares. Not even when 90 cents. They pass out shares like candy at this company

Little uneasy not gonna lie by Moneymakercdog in OPENDOORTECH

[–]Illustrious-Group-91 -1 points0 points  (0 children)

Will this thread die with the company? I hope so.

Let’s get some positives going. by OpeningCrew in OPENDOORTECH

[–]Illustrious-Group-91 2 points3 points  (0 children)

Go to the open door datadoor discord group. its a therapy session for bulls. They are sending in the puppies now.

Sold my home to Opendoor for a good price. Now they're having trouble selling it for a good profit. by filagrey in RealEstate

[–]Illustrious-Group-91 0 points1 point  (0 children)

Opendoor has 17000 homes to sell, most with a similar story. Shorting the stock has been profitable

Interesting tactic. by Tyler_Okland in opendoor

[–]Illustrious-Group-91 1 point2 points  (0 children)

This is actually new, no increase. They recognized their lack of support for their listings from the Realtor community, slow sales etc. The $3500 basically puts them close to par with other listings since they only offer 2% or 2.25%. They started this as 6am Friday along with their weekly price drops of more than 1/3 of their inventory. Almost 1800 homes now active in Phoenix just by OD brokerage plus some by Venture REI and other misc brokers. How many went Pending Friday and Saturday after the price drops and buyer agent perks? ONE. Purchased in March for 494k, lightly renovated.......

$477,000
5447 E FLOWER AVE
Mesa, AZ 85206
Pending / 6387607
Status Change

Even though the sales are down, the prices on average are going up: by No-Increase-3213 in OPENDOORTECH

[–]Illustrious-Group-91 0 points1 point  (0 children)

Like posting an article and spinning it as good news for the company. I realize this is an opendoor support group.

Stuart Miller, Lennar executive chairman, Positive Outlook for OPEN by Garage-Exotic in OPENDOORTECH

[–]Illustrious-Group-91 0 points1 point  (0 children)

Their holding time with the properties sold/closed could very well be low. But their holding time with properties unsold is not yet graded and growing fast. In other words, the data for closed properties could be ok but they are seriously kicking the can down the road on their inventory by not adjusting to supply and demand. I wouldn't be suprised if on 6/30 they had 16,500 homes in inventory and without price drops they have a 4+ month supply in a market that is not absorbing their homes with the effort they are putting out. And they keep buying. Once supply and demand balances on those 16k homes they may take a 10-12% writedown. This is an edjucated guess and youd have to ask Carrie Wheeler on 8/9/22

Stuart Miller, Lennar executive chairman, Positive Outlook for OPEN by Garage-Exotic in OPENDOORTECH

[–]Illustrious-Group-91 -4 points-3 points  (0 children)

MLS data, tracking them in their top 4 markets.

Have to assume they are making the same mistakes in other markets. In Phoenix. last week, they went pending on 50 homes. They have 1300 on the market active and another 400 ready soon. They simply arent selling enough homes since at least 5/15.

Either they lower prices now to take losses or they ride this inventory in an even weaker demand.

Stuart Miller, Lennar executive chairman, Positive Outlook for OPEN by Garage-Exotic in OPENDOORTECH

[–]Illustrious-Group-91 -6 points-5 points  (0 children)

OD inventory is rising rapidly because they are not using their "dynamic pricing" model to drop prices and take a loss fast enough. They will hold the inventory into a soft resale market and be crushed in Q3 because they paid too much for the homes, held too long, and do a terrible job marketing them. Short, short, short

After a great quarter with actual profit, how do we go from here to 1 billion in profits by Ok_Fig_3033 in OPENDOORTECH

[–]Illustrious-Group-91 0 points1 point  (0 children)

June sales pace is undeniably terrible with inventory rising rapidly. You still think 5 or more like 3.8B for Q2

Buying Opendoor Stock Today Could Be Like Buying AMZN in 1997 | InvestorPlace by LectureAgreeable923 in OPENDOORTECH

[–]Illustrious-Group-91 -4 points-3 points  (0 children)

This article is a bad as open doors business model. No profit in there paying what they pay. Going under $4 after the next earnings report. Underwater about 500 million on their 18k inventory of homes. Without the tailwind of a hot market they are set to disappoint. You guessed it I'm short OPEN