Opendoor

Opendoor has completed the beta phase of its Opendoor Home Loans unit and now offers mortgage products for home purchases in all licensed markets. It offers fixed-rate loans over 30, 20 and 15 years as well as adjustable-rate loans (5/6, 7/6, 10/6); the service applies to any property, not only homes from Opendoor’s portfolio. The digital process includes prequalification without a hard credit inquiry, online verification of income/assets and support from licensed financing specialists. » Más en de.investing.com

Opendoor fell about 4% on a day with no verified company-specific news, extending a 44% year-to-date decline and reflecting its high five-year beta of 3.59. The move outpaced a modest 0.6% drop in the S&P 500 ETF, indicating sentiment- and positioning-driven selling rather than fundamental catalysts. The report warns investors to limit position sizes in Opendoor given its low share price, heavy retail interest and history of amplified moves. » Más en finance.yahoo.com

Opendoor Technologies' stock hit a 52-week low of $3.20 and is down about 44% year-to-date from the high of $10.87. InvestingPro considers the stock overvalued at current levels; the company suffers from weak gross margins of 8.6% and analysts do not expect profitability this year. Q2 figures missed expectations (loss of $0.17 per share vs. expected -$0.08; revenue $883 million vs. estimated $902.62 million). Opendoor issued $650 million of senior convertible notes (maturing 2030), while Citizens kept its rating at "Market Perform" and highlighted revenue growth and technological progress under CEO Kaz Nejatian. » Más en de.investing.com