Stocks Rise: CPI Report Fuels Rate Cut Expectations, Oracle Falls

OpenDoor Technologies (OPEN) Stock ⁤Skyrockets After Leadership Changes & ⁤Investment

Here’s a summary of the recent ⁢developments with OpenDoor Technologies:

Stock Surge: OpenDoor (OPEN) shares jumped 50% on Thursday.
New CEO: Former Shopify COO Kaz Nejatian has been appointed as the new CEO, replacing Carrie Wheeler.
Founders Return: ⁤ Co-founders Keith ⁣Rabois ⁤and‍ Eric Wu are rejoining the Board of Directors, with Rabois becoming Chairman. ‍The company hopes they will bring “founder DNA” and energy.
New Investment: Khosla Ventures (Rabois’ venture capital firm) and Wu are investing $40 million into Opendoor to “fund continued ⁤investment in the buisness.”
* Meme Stock Status: OpenDoor has seen a surge in popularity as⁤ a meme stock sence July, rising from $0.53 per share in‍ June.