Opendoor Sinks 7% as Yield Spike Meets Delayed Profit Timeline, Offerpad and Zillow Group Trail

Opendoor's stock fell 7% on Thursday as CEO Kaz Nejatian admitted the company's adjusted net income break-even timeline would slip by six to eight weeks. Meanwhile, Treasury yields reached a three-year high. Offerpad and Zillow Group's stocks lost only 2 to 3% on the same day, with their lower-cost models less affected by Opendoor's inventory carry yield issues.

Nejatian acknowledged the delay in a post on X, noting the company still aims to achieve adjusted net income profitability by the end of the year. The iShares U.S. Home Construction ETF and the SPDR S&P 500 ETF Trust both dropped 2% and 0.69%, respectively, reflecting broader sector pressure on housing-related stocks.