5 New Stock Picks of Billionaire Stanley Druckenmiller

4. Opendoor Technologies Inc. (NASDAQ:OPEN)

Number of Hedge Fund Holders: 35  

Opendoor Technologies Inc. (NASDAQ:OPEN) owns and runs a digital real estate platform. Securities filings reveal that Druckenmiller opened a new position in the company during the fourth quarter of 2021. The stake comprises 233,000 shares worth $3.4 million, representing 0.12% of the portfolio. 

Opendoor Technologies Inc. (NASDAQ:OPEN) has many admirers on Wall Street. At the end of the third quarter of 2021, 35 hedge funds in the database of Insider Monkey held stakes worth $1.7 billion in Opendoor Technologies Inc. (NASDAQ:OPEN), the same as in the preceding quarter worth $765 million. 

In its Q1 2021 investor letter, Baron Fund, an asset management firm, highlighted a few stocks and Opendoor Technologies Inc. (NASDAQ:OPEN) was one of them. Here is what the fund said:

“The sales of Opendoor Technologies Inc. was a trim for position-sizing purposes after orders-of-magnitude type stock returns over the last year for these investments. We continue to believe the company is a disruptive innovator with open-ended long-term opportunities.”