Opendoor (OPEN) Slashes 9% on Market Pessimism, Leadership Changes

We precocious published 10 Big Names Investors Are Dumping. Opendoor Technologies Inc. (NASDAQ:OPEN) is 1 of the worst performers connected Wednesday.

Opendoor Technologies tumbled by 9.06 percent connected Wednesday to decorativeness astatine $6.12 apiece arsenic investors took way from pessimism successful the broader market, portion digesting changes successful its enactment composition.

In a regulatory filing earlier this week, Opendoor Technologies Inc. (NASDAQ:OPEN) announced the assignment of Lucas Matheson arsenic president, effectual Dec. 22, 2025, replacing Shrisha Radhakrishna, who temporarily assumed the relation pursuing the resignation of Carrie Wheeler arsenic the company’s main enforcement serviceman (CEO) this year.

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Radhakrishna, however, volition proceed to service arsenic main exertion and merchandise serviceman for the company.

Before joining Opendoor Technologies Inc. (NASDAQ:OPEN), Matheson served arsenic CEO of Coinbase Canada Inc. for 3 years, arsenic good arsenic respective directorship positions astatine Shopify.

In transportation with his appointment, Opendoor Technologies Inc. (NASDAQ:OPEN) said that Matheson accepted the company’s ceremonial connection that would entitle him to person an yearly basal wage of $500,000 and a sign-on bonus of $200,000 connected Jan. 1, 2026, taxable to repayment if his employment terminates earlier his archetypal twelvemonth arsenic president of the company.

He would besides beryllium eligible to person severance payments nether Tier 2 Executive.

On the archetypal time of his employment, Opendoor Technologies Inc. (NASDAQ:OPEN) said that it would grant Matheson with an grant of show restricted banal units amounting to $6 million, 20 percent of which volition beryllium vested connected Apr. 15, 2026, with the remainder to beryllium vested successful quarterly installments, taxable to his continued employment.

While we admit the imaginable of OPEN arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double successful 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This nonfiction is primitively published at Insider Monkey.