Markets
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Luke Kawa

Opendoor soars as management says Trump’s push to end institutional homebuying 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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Luke Kawa
8/17/26
Credit markets have a “debt” problem, not a “risk” problem

We’re getting a lot of borrowing, and that borrowing is risk-reducing (for now!)

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7/13/26
Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

Web Summit Vancouver 2026 - Day Three
markets
J. Edward Moreno

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Luke Kawa
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise
Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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