Opendoor stock jumps 22% after hedge funds disclose new positions

Investing.com -- Opendoor Technologies Inc. shares surged as much as 22% Thursday after two hedge funds revealed significant new stakes in the digital real estate company.

Regulatory filings show Qube Research & Technologies purchased 12.5 million shares valued at $30.3 million during the second quarter. In the same period, Weiss Asset Management acquired 9.61 million shares worth $24 million.

The stock movements come after Opendoor became the focus of retail trader interest in July, when its shares were caught up in a meme stock trading frenzy.

The institutional investments disclosed in the 13F filings appear to be adding momentum to a stock that has already seen heightened trading activity in recent weeks.

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