Opendoor Skyrockets 500% as Meme Stock Frenzy Resurges

- Reddit’s WallStreetBets fuels 500% surge in Opendoor stock. - Massive trading volume averts delisting risk amid market optimism. On July 22, 2025, Cointelegraph reported that fervent activity from Reddit’s WallStreetBets community had fueled an astonishing 500% leap in the share price for Opendoor Technologies (OPEN), cementing it as one of the newest darlings of the meme stock phenomenon. The explosion in demand sparked unprecedented trading activity, with traders exchanging an astounding 1.9 billion shares in a single day—five times the company’s long-term average. The rally propelled Opendoor’s stock price to $3.11, lifting the company out of penny stock territory and averting Nasdaq delisting risks after it had previously struggled under the $1 mark. Despite this meteoric rise, Opendoor’s fundamentals tell a more complex story. In Q1 2025, the company reported $1.2 billion in revenue and $99 million in gross profit but also posted a net loss of $85 million, underscoring persistent challenges in its core real estate business. The broader resurgence of meme stock activity parallels a robust market rally, as the S&P 500 recently hit record highs and the global cryptocurrency market cap briefly topped $4 trillion for the first time. Analysts attribute this optimism to expectations of potential interest rate cuts and strong corporate earnings. In addition, significant fund inflows into Bitcoin ETFs and heightened regulatory clarity in the crypto space have further buoyed this trend. According to CoinMarketCap, as of 21:09 UTC on July 22, Bitcoin (BTC) was trading at $119,664.03, with its 24-hour trading volume up by 2.1%.