I PROBABLY DON'T LIKE WHAT THESE GUYS DP. From a moral standpoint maybe I can't make this trade.
FTC says Opendoor to pay $62M under proposed administrative order 13:34 OPEN The Federal Trade Commission announced that it took action against online home buying firm Opendoor Labs for "cheating potential home sellers by tricking them into thinking that they could make more money selling their home to Opendoor than on the open market using the traditional sales process." The FTC alleged that Opendoor pitched potential sellers using "misleading and deceptive info
But the set up is there because this news came just after barons said:
Opendoor stock could double, Barron's says 09:48 Z, ZG, OPAD, OPEN When Zillow (Z) abandoned its online buying of homes in November, investors walked. Zillow's exit, however, also knocked half off the stocks of Opendoor Technologies (OPEN) and Offerpad Solutions (OPAD), two pioneers of the use of algorithms to buy homes - so-called iBuying, Bill Alpert writes in this week's edition of Barron's. At the current price, Opendoor is valued at around $3 billion, which isn't much more than the cash on its balance sheet, or alternatively, its book value, the publication notes. By turning over its inventory of homes roughly once a quarter, the company has reliably produced a per-home profit of around 5%. After years of start-up losses, it now makes operating profits and had its first net profit this year, the author adds.
