Opendoor Names New CEO, Goes Into "Founder Mode." Can the Stock's Meteoric Run Keep Going?

Opendoor Technologies (NASDAQ: OPEN), the e-commerce platform for buying and selling homes, just staged one of the market's loudest leadership resets. The company named Kaz Nejatian, formerly Shopify's chief operating officer, as CEO and said it is going into "founder mode" as co-founders Keith Rabois and Eric Wu rejoined the board. The announcement ignited another sharp move higher in the shares, adding to a volatile run this year as retail enthusiasm and leadership headlines collide with a tougher housing backdrop. The stock's rise has been meteoric. As of this writing, shares are up nearly 500% year to date.Opendoor is best known for bringing instant, data-driven cash offers to homeowners and then reselling those homes. The question now is whether a back-to-basics, founder-led posture, coupled with a product-oriented leader, can bend the financial curve in the face of sluggish transaction volumes and margin pressure. That is where the investment case will be won or lost.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool