Opendoor stated that with the inventory dealing with heightened volatility, the board opted to delay the particular assembly to present extra time for reviewing market circumstances and pricing tendencies.
Opendoor Applied sciences (OPEN) noticed retail chatter surge over 300% on Stocktwits within the final 24 hours after the corporate on Monday adjourned a particular assembly of shareholders, which was to be held to think about proposals associated to a discretionary reverse inventory cut up.
Shares of Opendoor have been down 1% in premarket buying and selling on Tuesday. Retail sentiment on the inventory was within the ‘bullish’ territory, in comparison with the ‘extraordinarily bullish’ a day in the past, with message volumes at ‘extraordinarily excessive’ ranges, in accordance with Stocktwits information.
The corporate stated it acquired discover from Nasdaq in Could that it had didn’t adjust to Nasdaq itemizing guidelines as a result of the closing value of the shares was beneath $1 per share for 30 consecutive enterprise days.
For Opendoor to be again in compliance with Nasdaq itemizing guidelines, the closing value of Opendoor’s widespread inventory have to be at the least $1 per share for at least 10 consecutive enterprise days by Nov. 24, 2025, the corporate stated.
The agency additionally identified that Nasdaq has not notified the corporate that it has regained compliance with itemizing necessities.
Opendoor stated that with the inventory dealing with heightened volatility, the board opted to delay the particular assembly to present extra time for reviewing market circumstances and pricing tendencies.
The inventory has gained practically 50% year-to-date. The corporate stated it was adjourning the scheduled assembly till August 27.
Opendoor has climbed practically 160% because the July 14 closing value of $0.90 and was buying and selling at $2.31 on Tuesday earlier than the bell.
A Stocktwits person stated the shares presently replicate a bearish pattern.
In line with Koyfin, brief curiosity on Opendoor shares was round 19% as of Monday.
Over the past week, Kohl’s (KSS) and Opendoor’s shares have rallied in a meme inventory frenzy much like GameStop in the course of the pandemic, when the videogame retailer’s shares noticed a sudden upswing and renewed curiosity from retail traders.
For updates and corrections, electronic mail newsroom[at]stocktwits[dot]com.
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