Citron will continue to update the market on $LDI and its upward trajectory…but in the meantime, let's get back to basics.
Unlike $LDI, which is undervalued and offers multiple ways to profit, $OPEN is little more than a stock pitch and a cash-burning science project.
$OPEN offers multiple ways to lose money:
– Unable to leverage AI to expand profit margins or defend market share.
– Low real estate margins—a 1-2% fluctuation can wipe out profits.
– Capital intensive—Billions of dollars are tied up in inventory with no guarantee of resale.
– Competition—Zillow has already tried this model and failed.
– Given its cash burn, expect massive equity dilution soon.
This business model isn't dead…but it's never worked.