Two 59%+ winners, four above 25% in Aug – How this AI model keeps picking winners
Opendoor Technologies Inc. (NASDAQ:OPEN) announced Friday that Carrie Wheeler has stepped down as Chief Executive Officer and as a member of the Board, effective immediately. The company stated that Ms. Wheeler’s resignation was not due to any disagreement with the company’s operations, policies, or practices.
Ms. Wheeler has agreed to serve as an advisor to the Board through the end of 2025 to assist with the transition. According to a press release statement, she will receive $62,500 per month and reimbursement of COBRA premiums during her advisory period, and her outstanding time-based equity awards will continue to vest as long as she provides advisory services. If the advisory agreement is terminated by the company before December 31, 2025, other than for cause, Ms. Wheeler will be entitled to the full compensation through the end of the year. The company maintains a strong liquidity position with a current ratio of 4.35, indicating ample resources to meet its short-term obligations.
The Board has appointed Shrisha Radhakrishna as President and designated him as interim principal executive officer, reporting directly to the Board. Mr. Radhakrishna previously served as Opendoor’s Chief Technology & Product Officer since November 2024. His prior experience includes serving as Chief Technology & Product Officer and Chief Technology Officer at LegalZoom.com, Inc., as well as leadership roles at Intuit Inc. The Board is conducting a comprehensive search for a permanent CEO.
Additionally, the Board has named Eric Feder as Lead Independent Director to assist with oversight during the transition.
Opendoor Technologies stated that it will file an amendment with further details on any compensation arrangements for Mr. Radhakrishna if and when they are determined. All information is based on a press release statement and the company’s filing with the Securities and Exchange Commission.
In other recent news, Opendoor Technologies Inc. announced the appointment of Shrisha Radhakrishna as President and interim leader following the departure of CEO Carrie Wheeler. Wheeler will remain as an advisor to the Board through the end of 2025. In a significant development, two hedge funds, Qube Research & Technologies and Weiss Asset Management, disclosed new stakes in Opendoor, purchasing shares valued at $30.3 million and $24 million, respectively. Meanwhile, Keefe, Bruyette & Woods downgraded Opendoor’s stock rating from Market Perform to Underperform, citing revised non-GAAP EPS estimates for 2025 and 2026.
Additionally, UBS raised its price target for Opendoor to $1.60, up from $1.30, while maintaining a Neutral rating. Despite the increased price target, UBS adjusted its fiscal year 2025 revenue and EBITDA estimates downward, no longer expecting year-over-year revenue growth in fiscal year 2026. Entrepreneur Anthony Pompliano also revealed a personal investment in Opendoor, which contributed to increased interest from retail investors. These recent developments reflect a dynamic period for Opendoor Technologies as it navigates leadership changes and varying analyst outlooks.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.