Opendoor Technologies (OPEN) Stock Forming Multiple Botoms On The Chart

Opendoor Technologies (NASDAQ:OPEN), which is involved in the real estate technology space, had a much anticipated IPO back in 2020. The company is looking to emerge as a disruptive force in the real estate market in the United States.

Opendoor Technologies (OPEN) Stock Forming Multiple Botoms On The Chart

Although there are going to be challenges, experts suggest that a long-term bull case can be made for Opendoor. The company is mainly focused on iBuying which relates to customers who can buy properties quickly with cash.

Generally, the properties are sold at a lower price than the market value in case of such transactions. Opendoor is trying to deploy its special algorithm and scalable solutions in order to provide sellers with better offers.

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The company pockets a fee of 7% and that is higher than the 6% that is generally charged by real estate agents. The company has done better than most of its peers in recent times as well and hence, investors could consider keeping an eye on this undervalued stock.

Uson Abdilazhanov

Editor and Computer Expert A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.