(Bloomberg/Stephanie Hughes) — Nextdoor Holdings Inc. shares surged as much as 49% early Wednesday, the most in over four years, as the man behind the retail-driven rally in names like Opendoor Technologies and Better Home & Finance Holding Co. took a bullish stance on the neighborhood social media app.

Eric Jackson, the founder of Toronto-based hedge fund EMJ Capital, said the company was “one of the most misunderstood platforms in the market” which has yet to recognize its potential in artificial intelligence.

Jackson said Wall Street traders are still valuing the company like a low-growth local advertising business when it really “sits on one of the most irreplaceable identity graphs in the AI era.” He cited the platform’s reach of over 100 million real verified households with real i

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