Opendoor, Offerpad Shake Off Zillow Collapse With Share Surges
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Shares in tech-powered home-flippers climbed after the companies, known as iBuyers, posted quarterly results that gave investors confidence in the growth prospects for the industry after Zillow Group Inc.’s high-profile exit.
Opendoor Technologies Inc. shares jumped as much as much as 25% to $24.40 in after the company posted a narrower loss than analysts estimated and revenue that topped expectations. The stock had slipped 14% this year, closing Wednesday at $19.52.