Opendoor Stock Jumps 65% on CEO announcement
NEW YORK – September 11, 2025 – Shares of Opendoor Technologies Inc. (OPEN) surged 65% today, closing at $7.18, following the announcement of Thomas Kurian as the company’s new Chief Executive Officer, effective September 16, 2025. The dramatic increase marks the largest single-day percentage gain for the stock since its public debut in December 2020.
The leadership change arrives as Opendoor navigates a challenging housing market and seeks to regain investor confidence.Kurian, formerly the CEO of Google Cloud, brings extensive experience in scaling technology businesses and a proven track record of operational execution. His appointment signals a strategic shift for the iBuying company,which has faced headwinds from rising interest rates and a slowdown in home sales. The move is expected to reassure investors concerned about Opendoor’s profitability and long-term viability in a rapidly evolving real estate landscape.
Eric Wu, Opendoor’s co-founder and current CEO, will transition to the role of Executive Chairman of the Board. He stated the decision was made in collaboration with the board to accelerate the company’s growth and capitalize on emerging opportunities. “Thomas is a world-class leader with a deep understanding of technology and a demonstrated ability to build and scale accomplished businesses,” Wu said in a press release. “I am confident that under his leadership, Opendoor will achieve its full potential.”
Kurian’s arrival is anticipated to focus on streamlining operations, enhancing the company’s technology platform, and improving its financial performance. Opendoor has experienced significant losses in recent quarters as it grapples with the costs of buying and selling homes, alongside fluctuating market conditions. Investors are hopeful that Kurian’s expertise will help the company navigate these challenges and establish a lasting path to profitability.
