00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Open Door shares slipped Tuesday as investors debated the company's profitability prospects,
00:06according to Benzinga.
00:08CEO Kaz Dejitalian recently introduced new buyer perks, including a seven-day home test
00:12drive and a 100-day warranty.
00:15Edge fund manager George Noble dismissed the move as a nothing burger, arguing Open Door's
00:19unit economics remained unsustainable.
00:21Critics such as Citron Research and Martin Skrilli echoed doubts over the iBuyer model,
00:25even after the stock's 600% rally since June and court approval of derivative settlement.
00:31Polish investor Eric Jackson countered that Open Door can revive housing liquidity and
00:35capture 10% market share.
00:37Shares fell 2.32% to $9.06 on Tuesday afternoon, according to Benzinga Pro.
00:42For all things money, visit Benzinga.com.
Comments