Is OpenDoor the next meme -sharing story story or gold from De Vaze?

This, combined with interest from other retail investors, led Jackson to make a message On social media platform X On July 14, in which he outlined his position for the possible revival of OpenDoor. In the X -Thread he argued that the Ibuyer “gave early carvana -vibes”, and that factors such as the lack of large domestic competitors, the expected EBITDA win in Q2 and a potential Federal Reserve Interest reduction In September it made a compelling investment, although not one for Bangeriken.

“One of the things that Carvana helped to switch to EBITDA’s profitability, and then with the expected rate reduction and the seller of OpenDoor, I felt that OpenDoor would have this tail wind behind it,” Jackson said. ‘We are so used to it now Uber are as we do taxis and Airbnb Because we book travel accommodation, it clearly felt that real estate is a huge market that is ready not to be interrupted and yet nobody really did it, but OpenDoor has the potential to do it. “

Your move, OpenDoor

For his part, OpenDoor has made it clear that it has three most important focus because it looks like the ship: Cash Plus, important connections and the use of AI.

Cash Plus was launched at the end of July 2025 and offers sellers access to “a significant part” of the value of their house in just 14 days. Sellers can also get extra money after the house has been sold. However, the program is only available for sellers who work with important agents.

Real estate analyst and lawyer Rob Hahn feel Thanks to that cash plus, OpenDoor can pay less than market value for a property, which reduces costs. Hahn, however, notes that the consumer is no longer the house seller, so they have no control over the final catalog price, which means that the consumer absorbs a huge amount of risk, because OpenDoor could sell the property for much less than the homeowner hoped that they will yield less money than expected.

In addition to Cash Plus, OpenDoor Key Connections, an extensive version of his Agent Partnership Program, announced at the end of June, about the same time that his share price on the rock on the bottom hit. Instead of having an Opendoor employee contact with a seller who has indicated the interest in working with OpenDoor, the program sellers link an agent who can offer options to homeowners who go beyond just accept the company’s flagship.

During the profit call of the company Q2 2025 at the beginning of August, CEO Carrie Wheeler said that the program “puts the power of OpenDoor in their hands so that they can bring our products directly to the seller.”

Although OpenDoor seems to praise this as an important strategy spil, Hahn notes about his Notoriousrobe Blog that the Ibuyer has been selling to agents seller since at least 2015. In addition, Hahn emphasized the Agent Access Program, who was launched in 2021, who, who has rewarded agents,, depending on the number of sales cable they sent to OpenDoor every year. This was expanded in 2023, when OpenDoor started to pay a seller to the platform, even if they did not represent the seller in the transaction.

Hahn sees this hinge as an open ear that leaves his original goal to eventually create a platform for homestellers and buyers to communicate directly with each other.

“So much for the original vision and the mission of OpenDoor, eh? Selling a house is slow, fragmented and unpredictable … but agents are the glue in the process!” Hahn wrote, referring to an OpenDoor statement made in a message about important connections. “In fact, OpenDoor Ibuying. OpenDoor transforms into a website of lead generation and its customers in the future are not sellers or buyers, but brokers who pay them a referral costs.”

Investors do not want agents in the middle

Jackson, who hopes to see that OpenDoor will be the Uber or Airbnb of home buyers and selling with sellers and buyers who communicate directly with each other via the platform, has mixed feelings about the company that brings agents in the middle of a transaction.

“I mean, it’s logical that they are now looking for income as they can,” said Jackson. “They must become this familiar brand, such as a Uber, and this interface becomes between the two parties, so that they can take very little financial risk, but in the medium or long term I think they will have the agents desinterpred.”

Although Jackson realizes that nowadays the majority of home buyers use a real estate agent to buy a house, he says that younger shareholders who hope to buy a house one day, want to see agents removed from the home coupling transaction, because they feel that they raise the costs, making them willing to bet on the potential rebound.

Moreover, Jackson said that he hears from Retail investors around the world who want to see a meaningful change in how real estate is handled because they feel that “local greedy real estate cartels” increase costs and make housing priceless.

AI will improve efficiency with fewer employees

Although Jackson is not a fan of OpenDoor who brings agents to the center of the transaction, he is a strong proponent of the exploration of the company to delivery AI.

“I think there is a huge opportunity for them to use AI in what they do. Today they are terribly oversized with around 1,400 employees, but they can lower it dramatically if they lean against AI,” he said.

In an article By “OpenDoor Engineering” published earlier this month, the company said that the AI ​​wants to use to deliver products that are personalized to their buyers and sellers on a scale, and it is of the opinion that the AI ​​usage allows “to reinvent” real estate good Via our platform around our most important agent partners. “

Although the article mentions a few AI tools that the company has, including Riskai, of which it can “determine” complex unstructured factors and to include them in detailed competing market analyzes “, it remains unclear about what other AI -Use Cases OpenDoor is investigating.

A long way forward

In addition to AI integrations, Jackson and other retail investors also ask for major changes to the OpenDoor board of directors.

“I try to get Keith Rabois, the venture capitalist who has written the original business plan for OpenDoor, to come back to the board and to be part of the group that selects the next CEO,” he said.

Although Jackson acknowledges that it might be a long way ahead, he believes that OpenDoor is able to see his shares jump 100x to $ 82 per share.

“They really have to build this pool of buyers and sellers, so that they can be this interface matching brand between the parties, but finding the right person to serve as the next CEO is the key because they have to control all this,” Jackson said. “If you get the wrong person, it dives you for five years from Dithering, but in some cases it can lead to almost total deletion of the company.”

Foolhardy optimism?

But while retail investors such as Jackson would like to want the shares of OpenDoor and be optimistic about a possible revival, analysts such as Julian Lin are not that certain.

In one on published about Alpha searchLin, the leader of investment group The best of varieties of growth bullets, He wrote that he believes that the recent stock rally is being powered by Meme -Hype and not on the market fundamentals and compares the situation to a rapid rise and fall in gamestop -shares in January 2021. This says Lin says that investing in opendoor is now “very speculative” and that he is “very speculative” at the moment and that he is at this time.

While Lin acknowledges that OpenDoor returned to the adjusted EBITDA profit in the second quarter of 2025, he notes that the company only did this after “aggressive cost savings”.

“It is possible that open his operating model can change and one can easily charge a small fee to facilitate any immovable transaction. Such a step would be an important shift of the current model, and I see no reason why this specific company would be able to claim such a valuable positioning such as Zill,” he can think.

“Perhaps investors hope that Open can earn a fee for the provision of an offer, for example that sellers can then bring the offer to the market to get a higher price (this would be the value addition for housing sellers). In this case I see the obstacles to entering entry because a well-gavitalized company should be able to compete in theory.”

OpenDoor has not returned any requests for comments about questions about criticism of his shares and programs, and how it intends to handle the pressure and requests of the activist retail investor movement.