OPEN Stock Slumps Below $2 For The First Time In Over A Year: Opendoor CEO Defends Homeownership — ‘Home Is Not Just a Financial Asset’

Opendoor’s stock fell below $2 amid profit concerns and high interest rates.

• Opendoor stock has plunged 65% year-to-date and is on track for a third straight week of losses. 
• Opendoor CEO Kaz Nejatian said owning a home benefits families and communities, while renting creates a financial burden. 
• Opendoor estimates Q3 revenue to grow 10%-15% year-on-year. 

Opendoor Technologies Inc. (OPEN) stock closed below $2 for the first time in more than a year on Wednesday on profit concerns amid a high-interest-rate environment, even as CEO Kaz Nejatian defended homeownership as a societal good and promoted a new 2%-down co-ownership program.

Opendoor stock traded over 1% lower in Thursday’s premarket.  On Wednesday, the stock finished at $1.99 and is down 65% year-to-date. Also, Opendoor is on track for a third straight weekly loss, down over 10% this week.

Opendoor CEO Says Owning A Home Benefits Families And Communities 

As the stock sinks, Nejatian is shifting the conversation from share price to purpose. In an X post, he argued that owning a home is not a speculative bet but a foundation for families and communities.

Nejatian pushed back on the idea that a house is just another investment. “We have massive amounts of data that ownership, like the literal act of ownership, makes families better off, makes neighborhoods safer, and increases lifetime outcomes for children,” he said.

“Home is not just a financial asset like a bond or a stock. It has broader societal implications.”

In a previous post, the CEO framed renting as a structural burden. “For millions of American families, rent is an unavoidable predatory and systemic tax on the unestablished or on those whose parents can’t gift them a large down payment,” he said. “Opendoor’s job is simple: end this tax.”  

Opendoor Own Takes Aim At The Down Payment Barrier

Nejatian also highlighted Opendoor Own, a co-ownership homeownership model the company launched in October. It is widely referred to as the Opendoor 2% down initiative. The program is currently operating through a waitlist for properties in North Carolina.

It targets renters and buyers locked out of the traditional housing market by high down payment requirements, the same group Nejatian says is paying the “tax” of rent.

Nejatian said the product was built around two requirements. “Our requirement for designing this was that the customer would be able to flip this into a mortgage easily and that they would own an actual asset,” he said.

Since Nejatian took over in September 2025, Opendoor has cut headcount, reduced consultant use, launched AI products, increased home acquisitions and expanded its mortgage business. Yet second-quarter revenue fell 44% to $883 million, and the net loss more than quintupled to $162 million. 

The Fed’s September interest rate hike and signals of further increases have put pressure on Opendoor shares. To add to the woes, the late-August housing slowdown delayed the company’s profit timeline by six to eight weeks. The company expects Q3 revenue to grow 10%-15% year-on-year. 

OPEN Stock: Retail View 

On Stocktwits, retail sentiment around the stock remained in ‘bearish’ territory. 

A user said, “This stock will become a generational example of what a falling knife looks like and why to never try catching one.”

OPEN stock has crashed 73% over the past twelve months. 

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