Opendoor Becomes a Top Stock on Reddit - Shares Are Up 1000%
September 11, 4:44 pm
In just a few months, OpenDoor (OPEN) has surged from penny stock levels to double digits, delivering over 1000% in gains. It’s the kind of rally that turns heads on Wall Street, but the earliest signs of this momentum weren’t found in earnings reports or analyst upgrades. They were found in Reddit threads, where retail investors began buzzing about Opendoor’s short interest and upside potential.
At AltIndex, we track Reddit mentions for thousands of stocks in real time, and Opendoor has been one of the clearest examples of how valuable that data can be.
From $0.5 to Over $10 in 3 months
The story begins in mid-May, when Opendoor was trading around $0.56 per share. At that time, AltIndex detected a sudden surge in Reddit mentions - a 1000% increase in mentions. That spike triggered a series of Reddit stock alerts for our users, flagging that something big might be brewing.
By July, the stock had climbed past the $2 mark, driven by building momentum and chatter around its high short interest and the possibility of a short squeeze.
In August, that momentum accelerated, and the stock quickly surpassed $5.
And then came the big breakout. Yesterday, Opendoor announced that Shopify’s Chief Operating Officer, Kaz Nejatian, would be joining the company as its new CEO. The news hit Reddit immediately - and so did the stock. Today, Opendoor shares gained more than 75% in a single trading session, fueled by optimism that a proven executive from one of the tech sector’s top performers could turn around the company.
That surge pushed the stock above $10 for the first time since early 2022, and confirmed what many Reddit users had been predicting for months.
Why Reddit Mentions Matter
At AltIndex, our goal is to give investors an edge by tracking alternative data signals — especially the ones traditional platforms tend to overlook. Reddit, in particular, has become a powerful force in modern markets. Communities like r/wallstreetbets have shown they can move billions in capital through coordinated hype and sentiment shifts.
That’s why AltIndex monitors Reddit mentions across thousands of stocks every day. Our members can follow multiple toplists such as Top stocks on Reddit and Top Stocks on Wallstreetbets and when we see unusual spikes in conversation volume — like we did with Opendoor in May — our system sends real-time alerts to members so they can act before the rest of the market catches up.
The Reddit chatter around Opendoor wasn’t a one-day anomaly. It was a sustained surge in discussion that continued through the summer, and our alerts reflected that. Members received multiple notifications as the stock kept trending in Reddit conversations — each one reinforcing the idea that the hype was far from over.
Don’t Miss the Next One
Opendoor is one of the latest stocks to surge thanks to Reddit, and it probably won’t be the last. As the market continues to change, online conversations are becoming more important for investors. Tracking Reddit mentions can help you spot early signs of momentum that may lead to explosive returns.
To spot opportunities early and be in the know of events that can impact stock prices, sign up and subscribe to our Reddit alerts - available both in our mobile app or via email.
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