Could Opendoor Technologies Be a Millionaire-Maker Stock?

Earlier this year, it looked like Opendoor Technologies (NASDAQ: OPEN) was left for dead. That is, until a large investor labeled it a stock with 100x potential and got an army of retail investors to start buying shares. Over the last three months, Opendoor stock is up 500%, producing rapid gains for shareholders. A high level of short interest likely contributed to this move.Even with these gains, Opendoor stock is still down close to 90% from all-time highs due to its huge cash burn and lack of profitability. The iBuying pioneer is starting to mount a comeback, but does that make it a millionaire-maker stock you should buy today? Let's dive into this business and see if the financials warrant this rapid appreciation in the stock price.In July, professional investor Eric Jackson began buying Opendoor stock and claiming it had 100x potential from its then price of below $1.00 a share. With a large following and the spreading of the idea around social media forums, the once penny stock went on an absolute tear and now trades at close to $5, likely with a few short squeezes on the way.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool