Opendoor Technologies (OPEN) shares surged more than 170% in five days after becoming a popular meme stock on Reddit. The stock has impressively grown 500% over the last 30 days, trading at 3.11 USD.
Daily trading volumes have escalated to over five times their historical average, indicating significant speculation. On a single day, approximately 1.9 billion shares exchanged hands, signaling heightened activity among traders.
This surge in meme stocks, including Opendoor, coincides with a broader recovery in the US stock market and an optimistic revival in the cryptocurrency space, where total market capitalization surpasses 4 trillion USD.
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