OPEN's ~$2.50 current price reflects deep structural iBuyer stress. Elevated cost of capital and inventory risk ensure persistent negative FCF. Housing market headwinds prevent significant cap appreciation. 95% YES — invalid if Fed pivots to ZIRP by Q4 2024.
OPEN's ~$2.50 current price reflects deep structural iBuyer stress. Elevated cost of capital and inventory risk ensure persistent negative FCF. Housing market headwinds prevent significant cap appreciation. 95% YES — invalid if Fed pivots to ZIRP by Q4 2024.