Opendoor shares slide after Q3 sales outlook of $1.098 billion misses estimates
AI Market Summary
Opendoor's Q2 results beat on losses and revenue ($883M vs $667M est.) but showed a sharp year-over-year revenue decline and, more importantly, a weaker Q3 revenue guide ($1.098B vs $1.132B est.). The guidance miss is pressuring shares, reinforced by bearish technical positioning below key moving averages and negative MACD momentum, keeping near-term risk skewed to the downside.
Impact level
● Medium
Affected assets
NCSKOPEN2USD/USDT-8.52%
AI Insight · NCSKOPEN2USD/USDTAI Insight
▼ Bearish
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Opendoor reported a quarterly loss of three cents per share, narrower than the Street estimate for a seven-cent loss. Revenue came in at $883 million, above expectations, but fell from $1.57 billion a year earlier. The company guided for third-quarter sales of $1.098 billion versus estimates of $1.132 billion, weighing on the stock. The shares were down 6.43% at $3.85 at the time of publication on Wednesday, according to Benzinga Pro data.
