US Stock Market Move | Senior personnel changes cause major shock, internet-famous stock Opendoor (OPEN.US) surges over 37%.

On Thursday, the online real estate platform Opendoor Technologies (OPEN.US) that is widely watched by retail investors surged over 37% at the opening, hitting a three-year high. Since reaching a historic low in June, the stock has increased more than 14 times. On the news front, the company announced on Wednesday that former Shopify (SHOP.US) executive Kaz Nejatian has been appointed as CEO, and co-founder Keith Rabois has been appointed as Chairman. Rabois, along with a team including Eric Wu, founded Opendoor in 2014. Wu served as the company's inaugural CEO before stepping down in 2023. According to Wednesday's announcement, Wu will rejoin the board of directors. Due to the stock price falling below $1, the company faced the risk of being delisted from Nasdaq in May of this year. Several weeks later, with Jackson vigorously promoting the company, Opendoor attracted significant interest from retail investors and has been dubbed a "meme stock."