O
pendoor has scrapped plans for a reverse stock split after its shares rebounded, regaining compliance with Nasdaq's price requirements. The iBuyer had been warned in May that it could face delisting if its stock price didn't recover, but a sudden surge last month brought the price above $1 per share for 12 consecutive days. As a result, Nasdaq has closed the matter and Opendoor has canceled a shareholder meeting scheduled to discuss the proposed reverse stock split.

    The company's shares began rising in mid-July after Eric Jackson, founder of EMJ Capital, expressed confidence in Opendoor's long-term success, sparking a "meme stock" effect that pushed the price above $4 per share. This momentum allowed Opendoor to regain compliance with Nasdaq's minimum bid price requirement.

    Opendoor is now set to release its Q2 earnings on August 5, which will provide insight into the company's performance following a year-over-year drop in revenue during the first quarter of 2025. Meanwhile, another iBuyer, Offerpad, remains at risk of delisting after being warned by the NYSE in April that it must provide a business plan outlining how it will regain compliance within 18 months.