Jim Cramer on Opendoor Technologies: “I’m Not Going to Jump on That Train”

Opendoor Technologies Inc. (NASDAQ:OPEN) is one of the stocks Jim Cramer was focused on. During the lightning round, when a caller asked about the company, Cramer remarked:

“You know, I’ve gotta tell you, this is a meme stock. The person who was, who left the company, the CEO, was a straight shooter. And I don’t really understand what happened, but I’ll tell you this: I am not going to jump on a situation that I thought was heavily, that some would say was manipulative, okay? Some would say. I’m not going to jump on that train.”

A man in black suit holding a tablet looks at stock market data on a monitor. Photo by Tima Miroshnichenko on Pexels

Opendoor Technologies Inc. (NASDAQ:OPEN) operates a digital platform for buying and selling homes. The company provides direct sales, listings, and marketplace services along with real estate, insurance, and construction solutions. Furthermore, it reported its Q2 earnings on August 5, posting an EPS of -$0.04, missing expectations by $0.01. Opendoor Technologies Inc. (NASDAQ:OPEN) beat its revenue estimates by $100 million at $1.6 billion, up 6% year-over-year.

While we acknowledge the risk and potential of OPEN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than OPEN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.