Opendoor’s 175% Surge Puts It on Pace for Its Best Week Ever

Opendoor Technologies Inc. shares are on pace to more than double this week following a hedge fund manager’s social-media endorsement, making it the latest stock to experience a speculative retail-driven rally.

Shares in the online platform for buying and selling US real estate jumped as much as 39% as of 2:15 p.m. in New York. If the gains hold through the session, the stock would gain more than 175% this week. The surge started after Eric Jackson, founder of Toronto-based hedge fund EMJ Capital, started to praise the stock on X late last week, garnering traders’ attention.