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Home » Stock Power Daily » “High-Risk” Online House-Flipper Flops


“HIGH-RISK” ONLINE HOUSE-FLIPPER FLOPS

Posted by Matthew Clark | Sep 23, 2022 | Stock Power Daily

2 minute, 32 second read



The average mortgage rate for a new home was 3% in 2020, according to the
National Association of Realtors.

Thanks to inflation and the Federal Reserve’s interest rate hikes, that average
has doubled to 6% today, the highest we’ve seen since 2008!

Higher interest rates cost millions of Americans the opportunity to buy a new
home.

This trend has hit one company hard.



But with our Stock Power Ratings system, you would have known that Opendoor
Technologies Inc. (Nasdaq: OPEN) was one to steer clear of even before it
announced it sold 42% of its properties at a loss in August.

A quick look at our Stock Power Ratings system helps you see the real picture of
a company.

Opendoor started in 2013 as an online platform for buying, selling and trading
residential properties.

Homeowners can post their homes, record video walk-throughs and get offers on
their homes.

Prospective buyers can use the app to search, make offers and buy their new
homes.

OPEN’s Stock Power Ratings in September 2022.

OPEN stock scores a “High-Risk” 1 out of 100 on our Stock Power Ratings system,
and we expect it to underperform the broader market over the next 12 months.


OPEN STOCK: SIGNIFICANT DOWNSIDE + LOW QUALITY

I like to tell you about impressive company milestones.

Not so much for OPEN:

 * In its most recent quarter, the company reported a net loss of $54 million!
 * Its total gross margin for the quarter was negative 4.4%.

That’s why OPEN scores a 13 on growth.

It also scores in the red on our other five metrics.

OPEN has a negative price-to-earnings ratio, meaning it’s not making money. It
scores a 33 on value.

The company has an awful return on equity of negative 11.5% and a return on
assets of negative 3.7%, which translates to an 11 on quality.

Folks are paying too much for the stock, and it has a ways to go before turning
a profit.

Created in September 2022.

From its 52-week high in November 2021 to its low set this week, the stock has
dropped 83.7%.

Opendoor stock scores an atrocious 1 overall on our proprietary Stock Power
Ratings system.

That means we consider it “High-Risk” and expect it to underperform the broader
market.

Bottom line: The housing market has cooled due to higher interest rates, with
more Americans priced out of buying a new home.

And that makes OPEN a stock to avoid.


STAY TUNED: CANADIAN OIL CO. OUTPERFORMS SURGING ENERGY MARKET

On Monday, we return to our original Stock Power Daily format.

Stay tuned — I’ll share all the details on another oil and gas company, this
time with “maximum momentum.”



Safe trading,

Matt Clark, CMSA®
Research Analyst, Money & Markets

P.S. I’d love to hear your thoughts about my “Stock to Avoid” article today. Was
it valuable? Would you like us to continue sharing occasional “High-Risk” stocks
so you know what to stay away from?

Would you prefer we only share “Bullish” and “Strong Bullish” stocks?

Write in and let us know!

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