San Francisco-based Opendoor is preparing for a SPAC merger that will effectively take it public — but there's no guarantee it will get its own ticker symbol.
Opendoor plans to go public by merging with a special-purpose acquisition company (SPAC). SPACs are companies with no commercial operations that exist purely to raise capital through IPOs.
The SPAC in question that plans to acquire Opendoor belongs to venture capitalist Chamath Palihapitiya. It's called Social Capital Hedosohpia II and currently trades on the New York Stock Exchange under the ticker symbol IPOB.
So, how exactly will Opendoor be available to the public? Well, nothing has been confirmed, but it's possible that Opendoor will get its own ticker symbol after the acquisition dust settles. That's what happened to Virgin Galactic — the British spaceflight company acquired by Social Capital Hedosophia in 2017.
Investors interested in purchasing Opendoor shares will need to keep their ears open for industry news leading up to the merger. There's no guarantee Opendoor will get its own ticker symbol — but it's a possibility.
Once Opendoor goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
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.
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.
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