Citron Research, led by famed short-seller Andrew Left, targeted Opendoor Technologies, Inc. OPEN in a social media post on Friday. Opendoor investors shrugged off the attack, and the stock climbed. 

Citron called Opendoor a "stock promo and a science project in how to burn money" while promoting its more favorable view on loanDepot, Inc. LDI. 

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Citron continued bashing Opendoor's business model, saying: 

"OPEN offers many ways to lose:

– No way to capitalize on AI to scale margins or defend share.

– Housing is low margin — a 1–2% swing wipes out profits.

– Capital heavy — billions tied up in inventory with no guarantee of resale.

– Competition — Zillow already tried & failed at this model.

– And with its cash burn, expect massive dilution soon.

The business model is not broken….it has never worked."

Opendoor investors largely brushed off the comments as OPEN shares dipped initially, but rebounded quickly. 

The stock was up by more than 8% on very heavy trading volume Friday, according to data from Benzinga Pro. The retail investor-led rally has driven Opendoor stock up by more than 420% over the past six months. 

LoanDepot shares also rallied following Friday's posts from Citron Research stating the market is pricing LDI like a "busted originator," ignoring its valuable mortgage servicing division. 

The firm placed a $5 per share valuation on that division alone, more than double the stock's recent trading price. 

OPEN Price Action: According to data from Benzinga Pro, Opendoor shares were up 8.27% at $6.45 at the time of publication Friday. 

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