In this podcast, Motley Fool analyst Dylan Lewis and Motley Fool senior analyst Tim Beyers discuss: Why Porsche is going public while other companies are holding off. Down rounds in the private markets.
Bloomberg reported that Opendoor lost money on 42% of the homes it sold in August, though that doesn't include the 5% fee the company collects from sellers. Many might remember how former competitor Zillow previously tried its hand at iBuying homes but gave up last fall due to poor unit economics. Here's why Opendoor's darkest hours could be upon us -- and why there could soon be light.
Last November, Zillow Group (NASDAQ: Z)(NASDAQ: ZG), the largest online real estate platform, abruptly announced its plan to exit iBuying. Now it seems the largest iBuyer in the industry, Opendoor (NASDAQ: OPEN), may be following in Zillow's footsteps for losses. A recent report from YipitData shared the company incurred losses on 42% of the homes sold in August 2022.