OPEN's persistent negative FCF and inventory turns confirm structural iBuying model stress. Elevated rate environment compresses spreads, forcing further dilution. Expect sub-$3.00 due to continued equity value erosion. 85% YES — invalid if 30-yr mortgage rates consistently drop below 4.5%.
OPEN's persistent negative FCF and inventory turns confirm structural iBuying model stress. Elevated rate environment compresses spreads, forcing further dilution. Expect sub-$3.00 due to continued equity value erosion. 85% YES — invalid if 30-yr mortgage rates consistently drop below 4.5%.
