KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
Meme-stock fever is returning — and this time, Opendoor Technologies (NASDAQ: OPEN) is at the center of it.
Once left for dead, Opendoor shares have spiked over 100% this week, fueled by a wave of retail investor hype across social media. Think Reddit’s WallStreetBets, Stocktwits, and X (formerly Twitter). If this all feels familiar — it is. This is the same formula that drove GameStop and AMC in 2021.
What’s Driving the Surge?
Retail attention: Pageviews for $OPEN on Stocktwits jumped 400% in just a day, and that momentum is still building.
Social media buzz: Users are posting trades, screenshots, and even due-diligence threads on Reddit — just like the early meme stock days.
Call option activity: Over 560,000 bullish options contracts traded in a single day — a record.
High short interest: Over 25% of Opendoor’s float is shorted, making it a prime candidate for a short squeeze.
A Quick Reality Check
Still unprofitable: Opendoor hasn’t posted a profitable year since going public via SPAC in 2020.
Stock price now: ~$1.65 — a far cry from its 2021 high above $30.
Speculative territory: Previously listed as one of MarketWatch’s most speculative U.S. stocks.
Analyst Perspective
Eric Jackson of EMJ Capital is bullish — he believes Opendoor could hit $80 in 1-2 years if the U.S. housing market revives. That’s a bold call, but for now, momentum—not fundamentals—is in the driver’s seat.
Tom Bruni of Stocktwits warns this could just be another "hot money" trade — fast inflows, fast exits.
MoneyMaster Takeaway
If you're considering $OPEN, treat it as what it is: a speculative trade, not a long-term investment (yet). Watch the retail sentiment, monitor options flow, and beware the volatility.
In short: Opendoor is back on the meme radar. But whether it’s a moonshot or just another round trip — that depends on how the next wave of traders plays it.
Investment Grade: 🟠 High Risk – High Reward
Investor Type: Short-term traders, not fundamentals-first investors.
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