Opendoor's record net loss undermines its investment case. Trailing net income has fallen to negative $1.521 billion, its worst level so far. x.com 

Opendoor's shrinking revenue and persistent operating losses undermine Keith Rabois's claim that its metrics are solid. Revenue fell from $15.6 billion in 2022 to $4.4 billion in 2025; the S&P Capital IQ screenshot shows broker estimates for negative EBIT through 2028 and $1.96 billion in total debt. x.com  x.com 

Opendoor's improving unit economics could create operating leverage when housing recovers. It could be one of 2026's most interesting speculative turnarounds. Q2 contribution profit rose 59% sequentially to $51 million, margin reached 4.8%, and profit per home sold rose about $5,000 to $22,000. It still has an adjusted EBITDA loss; mortgage rates, inventory and dilution threaten returns. The coming quarters must prove sustainable profits and shareholder value, not just volume. x.com 

Opendoor's losses would remain substantial even if revenue triples over the next few years. On that scenario, it would still lose $400 million a year against a $2 billion market cap. x.com 

Opendoor's Q2 double miss shows housing transaction velocity remains heavily constrained, disrupting its turnaround and pressuring near-term EBITDA breakeven targets. Revenue rebounded 23% sequentially to $883M but fell 44% year over year, and EPS was -$0.17 against -$0.07 expected. With rates keeping home turnover frozen, its capital-intensive model faces ongoing margin compression until real estate volume stabilizes. x.com 

Opendoor Technologies is undergoing a cultural change under CEO Kaz Nejatian that the market is pricing poorly. The latest results were incredible, Nejatian is even better than advertised, and acceleration is underway. The market tends to misprice such turnarounds when early results show but the new team lacks a long track record running the business. It all comes down to whether they can pull it off. x.com  x.com 

Opendoor is housing's cash incinerator and a stock to avoid in April. It is still burning money while high rates and low inventory work against it, and the turnaround story looks more like a reason to run. x.com 

Opendoor combines an awful business, awful management, an awful board and awful shareholders. @qcapital2020 recalls the retail campaign that left thousands of bagholders, and Keith Rabois installing a Shopify executive as CEO while talking of a $100 billion company. x.com 

Markets can front-run a rate turnaround, favoring an upward swing in Opendoor. Its transformation and a turn in rates are both bullish catalysts, while long-duration Treasuries look to be bottoming. Opendoor's stock is holding its support area. x.com 

Opendoor's 10% fee makes its offer uncompetitive for sellers. One homeowner was quoted a $60,500 service fee on a $634,000 sale, roughly double what both agents would cost, which explains why the stock is around $4 despite hopes it becomes a trillion-dollar company. x.com