Opendoor Technologies shares plunge 22.3% on weak earnings
OPEN Opendoor Technologies Inc
$1.31 -7.09%
View chart & analysis → - 1Opendoor Technologies shares fell 22.3% as of 2:12 PM ET on Friday.
- 2Opendoor revenue reached $1.02 billion, marking a 12% year-over-year increase.
- 3Opendoor reported a net loss of $218 million, with management stating they are behind schedule on the goal to turn adjusted net income positive by year-end.
So what's the key point?
Opendoor Technologies saw its stock price drop 22.3% because its losses were large despite making some money. The news was unfavorable for investors as the plan to reach profitability by the end of the year is facing delays.
Source The Motley Fool · View original ↗
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