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Opendoor Plunges on Delayed Break-Even as Surging Yields Weigh on Equities

24/7 Wall St. Read original source (opens in a new tab)
The Story

News Summary

  • Opendoor shares sank over 6% after CEO Kaz Nejatian disclosed that its adjusted net income break-even timeline slipped by six to eight weeks.
  • Rising Treasury yields, elevated mortgage rates, and WTI crude pushing above $100 further pressured rate-sensitive housing stocks and broader equities.
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WTI price history

105.48 +74.81% over the displayed period

Advisor Snapshot

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