Japanese Billionaire Masayoshi Son is Dumping These 4 Stocks

Page 1 of 4

In this article, we discuss the 4 stocks that Japanese billionaire Masayoshi Son is dumping. If you want to read our discussion on the recent losses incurred by Mr. Son and other stocks he is selling, go to “Defensive Mode”: Japanese Billionaire Masayoshi Son is Dumping These 8 Stocks.

4. Opendoor Technologies Inc. (NASDAQ:OPEN)

Number of Hedge Fund Holders: 39

Opendoor Technologies Inc. (NASDAQ:OPEN) is a California-based company that is involved in buying and selling residential real estate properties through its digital platform.

Opendoor Technologies Inc. (NASDAQ:OPEN) raised $400 million from Softbank’s Vision Fund in September 2018 and made the Japanese investment firm a minority stakeholder in the company. The stock was a bet on the North American online real estate market. Opendoor Technologies Inc. (NASDAQ:OPEN) is exposed to multiple real estate markets and intends to get a significant portion of the $2.3 trillion transaction value of the residential housing segment at the end of 2021. Presently, the contribution of digital platforms stands at only 1% of the total transaction value. However, rising interest rates and inflation have caused a significant dip in real estate transactions, which is not playing in favor of Opendoor Technologies Inc. (NASDAQ:OPEN).

Baron Funds shared its outlook on Opendoor Technologies Inc. (NASDAQ:OPEN) in its Q4 2021 investor letter. Here’s what the firm said:

“The Fund invests in secular growth and innovative businesses across all market capitalizations, with the bulk of the portfolio landing in the large-cap zone. The Fund is categorized as US Large Growth by Morningstar. As of the end of the fourth quarter, the largest market cap holding in the Fund was $2.5 trillion and the smallest was $791 million. The median market cap of the Fund was $27.5 billion. The Fund had $1.7 billion of assets under management. The Fund had investments in 63 securities. The Fund’s top 10 positions accounted for 45.4% of net assets. Fund inflows were positive for 2021.We sold Opendoor Technologies Inc. because we identified issues relating to our long-term theses in the company, and we decided to exit the positions to fund other purchases.”

As of Q2 2022, 39 hedge funds held a cumulative stake worth over $861 million in Opendoor Technologies Inc. (NASDAQ:OPEN).

Page 1 of 4