We recently published 10 Stocks Beating Wall Street’s Bets. Opendoor Technologies Inc. (NASDAQ:OPEN) is one of the best performers on Friday.
Opendoor jumped by 13.37 percent on Friday to finish at $7.97 apiece as investor sentiment was fueled by increasing certainties of an interest rate cut.
The US central bank is set to meet for its next Federal Open Market Committee (FOMC) meeting to decide on interest rates, and economists are already heavily betting on a 25-basis point rate cut following a lower-than-expected rise in September consumer inflation that solidified rate cut expectations.
Meanwhile, any cut move stands to benefit Opendoor Technologies Inc. (NASDAQ:OPEN) and its real estate counterparts—an industry highly sensitive to interest rates—as it could significantly unlock greater lending potential by encouraging more borrowings from homebuyers.
Additionally, the Federal Reserve is projected to announce one more rate cut by the end of the year, largely supporting borrowing volume, as well as Opendoor Technologies Inc.’s (NASDAQ:OPEN) ambitious plan to expand in the entire US.
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Disclosure: None. This article is originally published at Insider Monkey.
