Opendoor Technologies (OPEN) shares closed at $2.09 on October 12, 2026, extending a steep decline that has erased more than 60% of the stock’s value year-to-date amid elevated mortgage rates and depressed existing-home sales. Second-quarter results showed revenue of $883 million, down 44% year-over-year, and a $162 million net loss, reflecting continued pressure on the iBuyer model from high financing costs and limited seller mobility. The stock trades near its 52-week low with short interest above 23% of the float and elevated beta, amplifying sensitivity to any shifts in Treasury yields or housing data. Traders are now focused on the November 5 earnings release, where consensus expects revenue of roughly $1.08 billion and further losses, as the company navigates a capital-light strategy amid persistent macro headwinds.