OPEN's capital-intensive iBuying model remains fundamentally challenged. Persistent negative FCF, exacerbated by inventory impairment risks and elevated interest rates, severely cripples unit economics and impedes a clear path to profitability. A 100%+ valuation increase to $6.00 by May 2026 is highly improbable given sustained cash burn, balance sheet pressures, and a tight credit environment for their primary asset class. Their structural vulnerability to macro housing dynamics ensures prolonged struggle. 90% NO — invalid if 30-year fixed mortgage rates average below 4.5% for two consecutive quarters in 2025.
OPEN's capital-intensive iBuying model remains fundamentally challenged. Persistent negative FCF, exacerbated by inventory impairment risks and elevated interest rates, severely cripples unit economics and impedes a clear path to profitability. A 100%+ valuation increase to $6.00 by May 2026 is highly improbable given sustained cash burn, balance sheet pressures, and a tight credit environment for their primary asset class. Their structural vulnerability to macro housing dynamics ensures prolonged struggle. 90% NO — invalid if 30-year fixed mortgage rates average below 4.5% for two consecutive quarters in 2025.
