Markets
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Luke Kawa

Opendoor soars as management says Trump’s push to end institutional home-buying wouldn’t hurt the company

Opendoor Technologies is soaring on Thursday after executives argued that its swoon on Wednesday was an overreaction and misinterpretation by markets.

The online real estate company’s losses deepened yesterday after US President Donald Trump called on Congress to ban institutional investors from buying single-family homes.

Opendoor is a home-flipper rather than a longer-term holder that buys to rent (à la Invitation Homes or American Homes 4 Rent), and if anything, has been aiming to keep homes on its balance sheet for as short a time as possible under new CEO Kaz Nejatian.

Shares were down as much as 13% on Wednesday, but bounced off those lows around 2:15 p.m. ET after Nejatian took to X to endorse the proposal, and are continuing to pare some of those losses today.

Nejatian added, “We’re not institutional investors, our job is to help people buy homes. We don’t hold the homes!”

Chairman Keith Rabois, for his part, said this policy would only have a positive impact on the company, adding that it could increase conversion.

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Hyunsoo Rim

America now has more job seekers than available jobs

US job openings fell to 7.15 million in November, down from 7.45 million in the previous month, marking the lowest level since September 2024, according to BLS’s Job Openings and Labor Turnover Summary (JOLTS) report released Wednesday. 

The figure came in below all economist forecasts in a Bloomberg survey and declined across most industries, with the biggest pullback seen in leisure & hospitality, health care & social assistance, and transportation and warehousing. Only a few industries, including construction and retail, added jobs.

Hiring slowed as well, while layoffs declined to a six-month low, extending the “hire less, fire less” mode that has defined the US labor market for much of the past year — and that shift is making life even tougher not just for aspiring job switchers, but also for those trying to land a job in the first place.

Job seekers vs. job openings
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J. Edward Moreno
14h
Tilray rises after reporting earnings, revenue beat

Tilray’s biggest areas of revenue growth have been its alcohol business and its international market.

PORTUGAL-HEALTH-MEDICINE-PHARMACEUTICAL-DRUGS-CANNABIS
Tasha Matsumoto
14h
The S&P 500 finishes flat but tech weighs down the Nasdaq 100

Investors were in risk-off mode ahead of tomorrow’s jobs report.

BISHOP'S STORTFORD, ENGLAND - JANUARY 25: Snowfall in the Essex countryside on January 25, 2021 in Bishop's Stortford, Essex, United Kingdom.
markets
Matt Phillips

AST SpaceMobile rises after favorable commentary from BofA

Mobile-services-from-space play — and retail investor favorite — AST SpaceMobile rose after receiving a target price upgrade from Bank of America analysts.

In a note published Thursday, BofA telecom services analysts lifted their price target for the stock to $100 from $85, while noting that the low-Earth orbit satellite industry — which supercharged stocks like Rocket Lab, Planet Labs, and AST in 2025 — is set to gain more attention this year:

“We expect the momentum to intensify in 2026 as providers like ASTS and Starlink jockey to offer full cellular service and capture subscribers. Debates will likely grow regarding Starlink’s plans to offer full cellular service and regulatory decisions on Ligado and EchoStar spectrum transactions are events to watch. Carrier partnerships could evolve and pricing and plan decisions should be clearer by year end as ASTS approaches full constellation operability.”

Still, they maintained their “neutral” rating on the stock, saying they “await progress on ASTS 1) fully producing and subsequently launching its BlueBird satellite constellation, 2) successfully operating the constellation, and 3) capturing subscribers and turning them into revenue paying subscribers before becoming more constructive on the story.”

The market has been less reticent: the money-losing company’s shares are up approximately 300% over the last year.

Luke Kawa
AIudiophile
18h
Morgan Stanley: Most Gen Zers and millennials in the US listen to about three hours of AI music a week

That’s enough AI music to last the run time of “Avatar.”

WNBA: JUN 23 Indiana Fever at Chicago Sky

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