Why Opendoor Technologies Stock Plummeted Today

Shares of Opendoor Technologies (NASDAQ: OPEN) fell on Monday, finishing the day down 8.6%. The drop came as the S&P 500 (SNPINDEX: ^GSPC) lost 0.4% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 0.2%.While Opendoor stock finished down nearly 9%, it was initially up more than 15% earlier in the day on continued enthusiasm from Friday's rate cut news, before dropping as investors consider what the future might hold.Federal Reserve Chairman Jerome Powell gave a speech on Friday that painted a somewhat mixed picture of the economy. Ultimately, however, Powell said that the economy was resilient, and although he didn't say so explicitly, he seemed to indicate a rate cut would be coming in September. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool