Opendoor surges as management commits to ongoing engagement with shareholders, confirms plans to expand services throughout the US

Every Opendoor shareholder I’ve spoken to in the past five days has stressed how important it is for management to be transparent, direct, and engage with shareholders. It’s a crucial part of why they believe in the stock and how they expect to receive positive reinforcement on its turnaround efforts.

Shares of Opendoor Technologies are surging double digits as the company fully committed itself to following that path.

“Opendoor Technologies Inc. (the ‘Company’ or ‘Opendoor’) investors and others should note that the Company has used, and intends to continue to use, Opendoor’s website, press releases, Securities and Exchange Commission (‘SEC’) filings, blogs, community hub and social media accounts, as well as the X (formerly known as Twitter) accounts of its Chief Executive Officer, @CanadaKaz, and @Opendoor, as means of disclosing material non-public information,” according to a filing. “Opendoor encourages investors and others to review the information Opendoor makes public in the foregoing locations as such information could be deemed to be material information.”

The company has given its retail base of shareholders the management they asked for, which propelled shares sharply higher on Thursday, and is also giving them the communications they’re demanding.

The filing also confirmed the plan to expand throughout the US, as announced by CEO Kaz Nejatian in a tweet on Tuesday: