San Francisco-based Opendoor has completed a SPAC merger with Social Capital Hedosophia II that took it public.
What we know about Opendoor’s IPO
Opendoor wrapped up its merger with a special-purpose acquisition company (SPAC). SPACs are companies with no commercial operations that exist purely to raise capital through IPOs.
The SPAC, Social Capital Hedosohpia II, acquired Opendoor and belongs to venture capitalist Chamath Palihapitiya.
Shareholders of Social Capital Hedosophia approved the merger on December 18, and shares of Opendoor began trading December 21 on the New York Stock Exchange under the symbol “OPEN.” The stock opened at $30 per share.
How to buy shares in Opendoor
Before you can invest in Opendoor, you'll need to open a brokerage account.
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Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
Search for Opendoor. Find the stock by name or ticker symbol. Research its history to confirm it's a solid investment against your financial goals.
Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Opendoor reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market's ups and downs. You may be able to buy a fractional share of Opendoor, depending on your broker.
Check in on your investment. Congratulations, you own a part of Opendoor. Optimize your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.
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What is Opendoor?
Opendoor is a San Francisco-based real estate company that was founded in 2014. Through Opendoor, homeowners can skip the traditional listing, showing and negotiating process by selling their property to Opendoor for cash as-is. Opendoor then renovates the property and resells it at a higher price. The platform also operates as a marketplace for homeowners who don’t want a cash offer from Opendoor and prefer to list their property themselves. Opendoor is an accredited business with the Better Business Bureau (BBB) with an A+ rating.
Opendoor’s first six markets reached run-rate revenue of $2.76 billion in the first quarter of 2020, the company reported.
Courtesy of Opendoor
It now operates in 21 markets and reached $5 billion run-rate revenue in the first quarter of 2020, the company noted.
How do similar companies perform?
It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like Opendoor can be useful in determining how the market is performing and whether now is a good time to invest in this industry.
Select a company to learn more about what they do and how their stock performs, including market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.
Company summary
Zillow Group, Inc., a digital real estate company, operates real estate brands on mobile applications and websites in the United States. It operates through three segments: Homes; Internet, Media & Technology; and Mortgages. The company's mobile applications and websites offers various real estate transactions and related services, including buying, selling, renting, and financing services for residential real estate properties; purchase and sale of homes; title and escrow services; title insurance products and services; and mortgage loans. Its portfolio of brands include Zillow, Zillow Offers, Zillow Closing Services, Zillow Home Loans, Trulia, StreetEasy, HotPads, and Out East. The company also provides a suite of marketing software and technology solutions, such as Mortech, dotloop, and Bridge Interactive and New Home Feed; and display, advertising, and business software solutions. Zillow Group, Inc. was incorporated in 2004 and is headquartered in Seattle, Washington.
Historical performance
Stock information
Market capitalization: $37551648768
PEG ratio: 0.72
Dividend yield: 0%
Company summary
Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; originates and sells mortgages; and buys and sells homes. The company was formerly known as Appliance Computing Inc. and changed its name to Redfin Corporation in May 2006. Redfin Corporation was incorporated in 2002 and is headquartered in Seattle, Washington.
Rocket Companies is a Detroit-based holding company consisting of personal finance and consumer service brands including Rocket Mortgage, Rocket Homes, Rocket Loans, Rocket Auto, Rock Central, Amrock, Core Digital Media, Rock Connections, Lendesk and Edison Financial. Since 1985, Rocket Companies has been obsessed with helping its clients achieve the American dream of home ownership and financial freedom. Rocket Companies offers an industry-leading client experience powered by our simple, fast, and trusted digital solutions. Rocket Companies has 22,000 team members across the United States. Its flagship company, Rocket Mortgage, has been named to Fortune magazine's list of 100 Best Companies to Work For for 17 consecutive years. for more information, please visit our Corporate Website, Investor Relations Website, Twitter page, and our LinkedIn page.
Virgin Galactic Holdings, Inc., an integrated aerospace company, develops human spaceflight for private individuals and researchers in the United States. It also manufactures air and space vehicles. The company's spaceship operations include commercial human spaceflight, flying commercial research, and development payloads into space. In addition, it engages in the design and development, manufacturing, ground and flight testing, and post-flight maintenance of spaceflight vehicles. Virgin Galactic Holdings, Inc. was founded in 2017 and is headquartered in Las Cruces, New Mexico.
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Dawn Daniels is a publisher with Finder, based out of Oregon. Her background includes editing more than 40 published books, including Financial Fitness: 21 Easy Exercises to Get Your Personal Finances in Shape Fast by Dr. Vi Scott. In her spare time, Dawn enjoys hiking ridiculous distances and collapsing in exhaustion.
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