Opendoor Technologies (OPEN) Skyrockets 43% as Investors Push Price Up Amid Delisting Concerns

We recently published 10 Resilient Stocks Defying Market Sentiment. Opendoor Technologies Inc. (NASDAQ:OPEN) is one of Monday’s biggest gainers.

Opendoor Technologies soared for a sixth consecutive day on Monday, adding 42.67 percent to close at $3.21 apiece as investors scrambled to push its share price higher amid concerns about potential delisting.

The rally followed a notice from the Nasdaq on May 28 that it failed to maintain its bid price requirement of $1, and that it had 180 days or until November 24 to regain compliance.

Under the rules, the company needs to maintain a $1 bid price for 10 consecutive days to remain a publicly listed company; otherwise, it could face delisting.

Monday’s close marked the fifth straight day for Opendoor Technologies Inc. (NASDAQ:OPEN) to trade above the minimum bid price, having climbed the said level on July 15 after trading below the figure between April 14 and July 14.

Opendoor Technologies (OPEN) Skyrockets 43% as Investors Push Price Up Amid Delisting Concerns

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Companies typically announce developments that could boost investor confidence or conduct reverse stock split activities to bolster share prices.

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