NASDAQ:OPEN - Nasdaq - US6837121036 - Common Stock - Currency: USD
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the real estate services industry, including Newmark (NASDAQ:NMRK) and its peers.
SAN FRANCISCO, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (“Opendoor”) (Nasdaq: OPEN), a leading e-commerce platform for residential...
Opendoor has been treading water for the past six months, recording a small loss of 3% while holding steady at $1.91. The stock also fell short of the S&P 500’s 10.3% gain during that period.
Real estate stocks have been feeling the heat of high interest rates for a few years already, but many of them are on the rebound, including stocks like Home Depot and Lowe's, as well as many real estate investment trusts (REITs). The main one is that the Federal Reserve cut its benchmark interest rate for the first time in four years, and there might be more cuts coming. The election of Donald Trump as president and the imminent arrival of his cabinet picks are others.
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The Federal Reserve is set to meet in the middle of December, and it has signaled a desire to cut interest rates further at that time. When it cut rates in September, the stock market had an extremely positive reaction, and another cut could activate more market enthusiasm. Mortgage rates began to go down when interest rates were cut, but they're going back up.
SAN FRANCISCO, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (Nasdaq: OPEN), a leading e-commerce platform for residential real estate...