One of the world’s newest so-called meme stocks is having a very bad day today. Shares in Opendoor Technologies (Nasdaq: OPEN) are currently slumping more than 20% in premarket trading. Here’s what you need to know.

Opendoor reports its Q2 2025 results

Yesterday, Opendoor announced second-quarter results for its fiscal 2025. Here’s what Opendoor reported: • Revenue of $1.6 billion • Gross profit of $128 million • Net loss of $29 million

The company also revealed that it had an inventory balance of 4,538 homes with a total value of $1.5 billion. Additionally, it said that during the quarter, it purchased 1,757 homes, which was down 51% from the previous quarter and down 63% from the same quarter a year earlier.

For its current Q3, Opendoor issued revenue guidance of $800 million t

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