Opendoor Technologies ( OPEN 11.58%) shares are experiencing another notable rally this Friday. By 12:30 p.m. ET, the company’s stock had climbed 8.9%, after reaching an intraday high of 13.6% earlier.
The surge in Opendoor’s stock price today can be attributed to renewed meme stock enthusiasm and the most recent U.S. employment data. Although the jobs report was much weaker than predicted, it appears to be acting as a tailwind for the company’s market value.
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Opendoor shares jump following disappointing jobs data
This morning’s August employment update from the Bureau of Labor Statistics revealed that only 22,000 non-farm jobs were added last month in the U.S., well below the consensus estimate of 75,000 new jobs.
The underwhelming jobs report raises expectations that the Federal Reserve could cut interest rates at its Sept. 16-17 meeting. This scenario presents several advantages for Opendoor.
First, reduced interest rates might enable Opendoor to refinance its existing debt at lower costs. While the Fed’s policy rate does not directly set mortgage rates, the two typically move in tandem. In general, falling interest rates serve as a positive force for stock valuations, with speculative stocks often seeing outsized gains as a result.
What lies ahead for Opendoor?
Opendoor has experienced an impressive rally in 2025, with its stock price soaring about 306% so far this year. While some of these gains are linked to rising excitement over new artificial intelligence (AI) initiatives and a change in CEO, much of the momentum seems to be fueled by speculative meme stock trading.
Many investors are hopeful that Opendoor could be embarking on a turnaround similar to Carvana, potentially delivering substantial returns. However, while the possibility for further gains remains, it’s important for investors to recognize that this remains a high-risk investment.
