Opendoor Technologies Stock - Should You Buy $OPEN?

Описание: Today I discuss $OPEN stock and offer stock analysis. Should you buy Opendoor stock now? On December 17 of 2020, Social Capital Hedosophia Holdings Corp II agreed to merge with Opendoor Labs. The combined company was renamed Opendoor Technologies (NASDAQ:OPEN) on Dec. 18. The stock has fallen significantly. Is OPEN a buy now? Let's look at fundamental analysis and technical analysis for OPEN.

"Opendoor commands a rich valuation. Also, with SPAC impresario Chamath Palihapitiya the key player behind this deal, shares have moved higher, in anticipation of the successful tech investor striking gold yet again.

Valuation may be a concern. But don’t let it cloud your judgment. Sure, you have to pay up now. Yet, a few years down the road, today’s valuation (around $17 billion) may look reasonable in hindsight.

Why? As I mentioned above, the company has a clear pathway to reach $50 billion in sales. To get to this number, all Opendoor needs is to gain around 3% market share. With this in mind, its ambitious goal is more than attainable"

Sources:
https://investor.opendoor.com/static-...
https://investorplace.com/moneywire/2...
https://investorplace.com/2020/12/thi...
https://investorplace.com/2020/12/ope...

Disclaimer:
I have been investing in the stock market for over 20 years, but I am not a financial advisor or a legal professional, & I am not providing financial or legal advice. The information provided is for informational purposes only. It should not be considered legal or financial advice. You should consult with an attorney or other professional to determine what may be best for your individual needs. FIRED Up Wealth and Eric Cuka do not make any guarantee or other promise as to any results that may be obtained from using our content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence. Past performance is no guarantee of future results.

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