Opendoor used to bet on home prices. Now it bets on speed
Investor scrutiny has grown lately as the iBuyer bets AI tools can improve margins in a shaky housing market
The goal is to maximize 2 new partnerships and 4X Better's monthly mortgage originations to $2B. The raise follows bullish endorsement by activist Opendoor investor Eric Jackson
EMJ Capital's founder posted thesis on X that Better Home & Finance is 'the Shopify of mortgages' with the potential for AI to boost capacity and fuel explosive growth over the next 2 years.
Investors who kept the faith even as the iBuyer's stock price was plummeting earlier this summer are being rewarded now with a surge following the announcement of Kaz Nejatian as the new CEO
Opendoor, which posted a $392M 2024 net loss and faced delisting from the Nasdaq Stock Market, has seen shares surge 283% in the last month
Investors bid up shares of mortgage lenders and real estate companies after 'relatively benign' CPI report ends speculation that inflation worries might force the Fed to raise rates this year