Opendoor Technologies (OPEN) stock continued its meteoric rise on Monday, with shares rising as much as 115% in afternoon trading as the meme stock-style rally continues.
The long-beleaguered iBroker platform saw its share price gain 188% last week, bringing the stock from just above $0.50 less than a month ago to now above $4.80. Shares still remain far below their all-time high of $39.24 reached in February 2021.Powering the stock, in part, has been a public bull case from Carvana (CVNA) turnaround spotter EMJ Capital and a ream of speculative bets posted to the subreddit wallstreetbets, a haven for meme stocks, have both added significant fuel to the fire.
Retail trading activity in the stock has surged in recent weeks, according to data from VandaTrack.