Opendoor Shares Rally as Reverse Split Vote Postponed

Shares of Opendoor Technologies Inc. (NASDAQ:OPEN) rose 6.3% in premarket trading Monday after the company announced it is delaying a vote on proposed reverse stock split measures. The special stockholder meeting, initially scheduled for July 28, has been rescheduled to August 27, 2025.

The real estate tech firm said the delay will give its leadership more time to evaluate market conditions before putting the proposals to a vote. The board clarified that even if shareholders approve the reverse split, it would not be automatically enacted — rather, the approval would serve as an optional tool if deemed advantageous to the company.

Opendoor received a warning from Nasdaq in May, having closed below the $1.00 threshold for 30 consecutive trading days, putting it at risk of delisting. To regain compliance, the company’s share price must trade at or above $1.00 for at least 10 straight business days before the November 24, 2025 deadline.

The rescheduling of the vote follows a period of sharp price swings in the company’s stock. The recent surge comes after positive comments from EMJ Capital’s Eric Jackson, who has voiced support for activist involvement and floated a potential valuation of $82 per share. Jackson has been openly critical of the reverse split proposal, calling it “stupid.”

In its announcement, Opendoor cited recent trading volatility and its effect on the stock price as a key factor in the decision to delay the meeting. As of now, the company has not received confirmation from Nasdaq that it has returned to compliance with listing standards.

Opendoor Technologies stock price

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