Opendoor Surges as Meme-Stock Mania Returns; QuantumScape Jumps on Track for Ninth-Day Rally
Opendoor Technologies shares jumped another 7% in premarket trading on Friday, despite the absence of company-specific news.
The online home-flipping company’s stock climbed sharply amid increasing chatter on social media platforms such as X and Reddit, driven by retail investors' sentiments. The stock's momentum was further fueled by discussions likening Opendoor to Carvana, another company that underwent a notable stock resurgence.
Quantumscape shares jumped another 6% in premarket trading on Friday, on track for ninth-day rally, up more than 100% in July. Investors continued to focus on recent technical breakthroughs and show renewed optimism about the company's future in solid-state battery technology for electric vehicles.
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