Per Bloomberg
Opendoor Lost Money on 42% of August Home Flips with Phoenix Losses Topping at 76%
9/26/2022
Opendoor lost on 42% of its August resales after failing to anticipate the housing market's decline in demand.
The company lost money on 76% of sales in Phoenix and 55% in Los Angeles. The home-flipper warns investors of a $175 million loss. Opendoor also lost 78.5% YTD.
See full $OPEN flow at unusualwhales.com/flow.
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