We recently published 13 Stocks That Jim Cramer Discussed. Opendoor Technologies Inc. is one of the stocks Jim Cramer recently discussed.
Cramer discussed Opendoor Technologies Inc. at the tail-end of this show. The shares have gained a whopping 561% year-to-date, primarily on the back of a massive 79% gain in September and a run that kicked off in mid-July. So, has Opendoor Technologies Inc. solved world hunger or has it achieved quantum computing at scale? The answer is neither, as Jim Cramer believes the firm is a meme stock. Opendoor Technologies Inc.’s business model sees the firm allow customers to buy and sell houses on its software platform. In this episode, Cramer discussed the firm on the news of a new CEO who had previously worked at Shopify:
“[On new CEO coming from Shopify] Shopify, I understand that fellow’s well known and they’ve got someone returning for the award. This is one company that does house flippings.”
Previously, Cramer asserted that he wasn’t going to jump on the Opendoor Technologies Inc. train:
“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.”
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This article is originally published at Insider Monkey.
