Opendoor Technologies Inc. (NASDAQ:OPEN) is trading sharply higher on Wednesday. The upward price action follows a highly bullish long-term forecast published on X and Substack by Eric Jackson, the founder and hedge fund manager of EMJ Capital.
Jackson outlined a thesis predicting that the real estate platform could replicate the massive historical returns of generational tech giants.
The $500 Long-Term Stock Thesis
While Wall Street analysts track Opendoor with modest price forecasts between $1 and $8, Jackson issued a bold public forecast for OPEN on Wednesday, projecting a price of $82 by 2028 with a 60% probability, $200 by 2030 with a 20% probability, and $500 by 2033 with an 8% probability.
Reflecting on his conviction in the company, Jackson noted that he first bought OPEN at 73 cents and publicly disclosed the position at 87 cents. With the stock now trading above $4, he argued that transparency has been central to his investment approach. He also emphasized that even his base-case scenario offers substantial upside.
