Why Opendoor Technologies Stock Was Tumbling Today
Opendoor(OPEN) The Motley Fool· The Motley Fool·2025-05-09 18:36Shares of Opendoor Technologies (OPEN -24.31%), the leading online home flipper, were falling today after the company said it was refinancing convertible debt and taking on new debt, which seems to confirm that the company is struggling to turn profitable, as we saw in its first-quarter earnings report.As of 1:57 p.m. ET, the stock was down 18.9%. Opendoor adds new debtIn a filing, the company said it was refinancing $245.8 million in 2026 notes with notes due in 2030, with an interest rate of 7%. It's also ...