Opendoor shares jump as traders flock to newest meme stock

Opendoor Technologies jumped 120% on Monday, extending its gravity-defying rally from last week, as investors continued to pile into the stock that has found a sudden fandom among retail traders and social-media platforms. 

The stock’s triple-digit surge sent shares of the Tempe, Arizona-based company soaring to $4.97, well-above the $1 level it was bouncing around for the last few months. If the record advance holds through the session, the stock will notch its sixth straight day of gains. Shares have since pared their rally to 54% and trading was briefly halted because of volatility. When the market closed, Opendoor was at $3.21, up 96 cents or 42.67% on the day.

Opendoor has been the subject of chatter among retail traders on social media in recent days after Eric Jackson, founder of…