OpenDoor is disrupting the real estate market with its new model. It buys homes and sells them on its platform.
Opendoor stock rocketed 65% higher on Thursday after the retail favorite named Shopify executive Kaz Nejatian as CEO and co-founder Keith Rabois as chairman.
The meme stock hit a 52-week high and continued a stunning run this year, with shares up more than 500% so far.
Former CEO Carrie Wheeler resigned last month following a pressure campaign from investors that included critical comments from Rabois and hedge fund manager Eric Jackson, who has been a key part of the stock's resurgence this year.
Jackson built a massive following on X in part due to his successful bet on Carvana , and then turned his attention to cheering a turnaround at Opendoor.