Is this the next meme stock?

Opendoor Technologies ( OPEN -4.67% ) has taken the market by storm in the last three months. The online home flipper gained traction as a meme stock back in July after hedge fund manager Eric Jackson made the argument online that the stock, which was trading at just around $0.50/share, could be the next Carvana , referring to the online used car dealer that jumped more than 100 times after nearly going bankrupt in 2022.

Opendoor picked up steam as retail investors piled into the stock, and the surrounding excitement seemed to help trigger a leadership overhaul. In August, CEO Carrie Wheeler stepped down, and earlier this month, the company brought Shopify COO Kaz Nejatian as its new CEO. Co-founders Eric Wu and Keith Rabois have joined the board

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