Martin Shkreli Reinforces Bearish Bet Against Opendoor, Citing Newegg Comparison
AI-Generated Summary
Martin Shkreli, the former hedge fund manager, has reiterated his strong bearish stance on Opendoor Technologies Inc. (OPEN), comparing its recent stock rally to the eventual pullback of Newegg Commerce Inc. (NEGG). Shkreli labeled Opendoor an "obvious short," despite its significant recent gains, suggesting a similar market correction is imminent. This position is echoed by other prominent short-sellers like Citron Research, who also expressed concerns about Opendoor's business model.
In a nutshell
This article highlights the ongoing tension in the market between speculative retail-driven rallies and critical assessments from experienced financial figures and short-sellers. Shkreli's controversial history and strong pronouncements add a notable element to the discussion surrounding the valuation and future of 'meme' stocks like Opendoor.
Source: Benzinga
