Yesterday was an unexpected climax for Opendoor Technologies (stock code: OPEN), with its stock price soaring by 80% due to the company's appointment of a new CEO. Retail investors rushed in, and Opendoor quickly became a hot topic stock. However, today the pace is slightly different, as some investors chose to take profits at high levels. In the morning program, co-founder and newly appointed board chairman Keith Rabois calmed the momentum of the stock price surge, and by 1:17 PM Eastern Time, the stock price had fallen by 15.4%.

Speaking of today's growing pains, after Rabois and another co-founder Eric Wu rejoined the board, Kaz Nejatian (formerly the Chief Operating Officer at Shopify) was appointed as the new CEO. Today, Rabois commented on the company's large team of 1,400 people, saying, "I don't know what most of them are doing." He clearly stated that the company will reduce its workforce, believing that at least 200 people are redundant.

Rabois also mentioned that the company's culture is somewhat "fragmented," especially after remote work became the norm. He further explained:

> Culture has become fragmented. These people are working remotely. And this way does not work. Our company was founded on the principles of innovation and face-to-face collaboration. We will return to our original intention.

Additionally, Rabois denied that Opendoor's stock price was driven by "hype." He believes that the stock's rise of over 1,300% in the past three months is due to the support of retail traders. This wave of retail trading in the stock is actually a healthy sign, with consumers themselves, rather than professional fund managers, deciding which stocks to support.

This viewpoint is bound to spark controversy, as investors who have entered the market due to the stock becoming a hot topic may be considering selling their shares. And this could be a wise decision. Ultimately, business fundamentals will prevail. The key to Opendoor turning losses into profits may lie in the recovery of the real estate sector, but that remains an unknown.

I dare not forget, the current stock market is always unpredictable, who can accurately guess the future? Therefore, it might be better to pay more attention to the overall market dynamics and avoid being limited to short-term topic hype. What are your thoughts on such market fluctuations? Feel free to leave a comment and share your views!