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pendoor's stock price has skyrocketed by as much as 441% in the past week, after months of trading below $1. The company is seeking shareholder approval for a reverse stock split, which could further boost its value. Wall Street is closely watching Opendoor's sudden surge, particularly since it received a potential delisting notice from Nasdaq in May due to its low stock price.

    A hedge fund manager and social media users have contributed to the stock's rise, with some predicting that Opendoor will follow in Carvana's footsteps after losing significant value. EMJ Capital Founder Eric Jackson believes Opendoor has the potential for a resurgence, citing the company's lack of national competitors in iBuying. He predicts the stock price will hit $82 "in a few years."

    Opendoor is set to report its second quarter earnings on August 5, providing a wider view of its financial health. The shareholder meeting to discuss the reverse stock split is scheduled for July 28. Meanwhile, rival Offerpad has also seen a significant stock jump, more than doubling in value between July 20 and 21 before falling late in the day.