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Opendoor Technologies Inc Series Z Warrant/$OPENZ

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About Opendoor Technologies Inc Series Z Warrant

Opendoor Technologies Inc is an end-to-end real estate platform enabling customers to sell and buy a home online. Its product offerings include Sell to Opendoor, its core product where sellers sell their homes directly to the company, and it resells those homes to buyers; List with Opendoor, for customers to list their homes with a partner agent; and Opendoor Marketplace, a capital-light marketplace offering that connects home sellers with both institutional and retail buyers. In addition to these products, the company also offers its customers integrated title insurance and escrow services through its subsidiaries. A vast majority of the company's revenue is generated by its core product offering, where it acquires homes directly from sellers and resells those homes to buyers.
Ticker
$OPENZ
Sector
Real Estate
Primary listing
NASDAQ
Employees
1,042
Headquarters
Tempe, United States
Website
www.opendoor.com

OPENZ Metrics

BasicAdvanced
$2B
-
-$1.72
3.59
-

Bulls say / Bears say

Opendoor’s Q2 operating momentum improved sharply: acquisition contracts rose to 6,908, contribution margin reached 5.8%, and homes aged over 120 days fell to 9%. If that translates into sustained profitability, the common shares could move materially closer to OPENZ’s $17 exercise price, giving the warrant considerable leverage. (GlobeNewswire, Opendoor Technologies)
The agent-led Cash Now, More Later product, AI automation and integrated mortgage offering could improve customer acquisition, resale efficiency and revenue per transaction without relying entirely on balance-sheet-heavy house flipping. Early mortgage adoption in Colorado and Texas suggests the wider platform strategy is gaining traction. (Inman, GlobeNewswire)
Opendoor raised $440 million of net growth capital through zero-coupon convertible notes and repurchased about 5% of its shares. That extra liquidity and lower share count could support the turnaround and amplify returns for OPENZ holders if the common stock stages a strong recovery before expiry. (Opendoor Technologies, StockTitan)
The underlying turnaround is not yet proven in GAAP results: Q2 revenue fell 44% year on year to $883 million, the net loss widened to $162 million, and first-half operating cash flow was negative $964 million. Inventory rose to $1.845 billion while non-recourse asset-backed debt reached $1.762 billion, leaving the model exposed to funding and resale conditions. (StockTitan, HousingWire)
Management said a sharp deterioration in housing conditions in late August delayed the adjusted-profit milestone by six to eight weeks and forced clearance-first pricing. That shows how quickly slower sales can push back profitability and pressure margins, which is particularly damaging for a highly leveraged warrant. (24/7 Wall St., StockTwits)
OPENZ has a $17 exercise price and expires on 20 November 2026, leaving only about two months for the common stock to make an exceptionally large move. With the warrant recently quoted around $0.09 and the common shares well below the strike, the most likely outcome is loss of the premium if the rally does not arrive quickly. (StockScreener, Minnowstreet)
Data summarised monthly by Lightyear AI. Last updated on 19 Sept 2026.

Funds containing OPENZ

Funds
Fund name
Fund size
$OPENZ weighting
SPDR MSCI USA Small Cap Value Weighted$USSC
$1.1B0.00%
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