Key Points Opendoor has become the latest "meme stock," with its rally heavily influenced by retail investor enthusiasm.Despite the recent positive momentum in share price, the company faces substantial financial challenges,

Opendoor stock took off last Monday after Eric Jackson, founder of EMJ Capital, announced his firm had taken a position in the company and said the stock “could be a 100-bagger over the next few years.” The term refers to stocks that return $100 for every $1 invested.

A Meteoric Surge Ignites Hype Opendoor Technologies (NASDAQ:OPEN) is on fire, skyrocketing 75% in midday trading Monday, after a jaw-dropping 188% gain last week, lifting its stock to $3.94 per share.