Posted in meme: Paul Tudor Jones increased his stake in Opendoor by 1000% before its rally

Tudor Investment billionaire fund manager Paul Tudor Jones sold shares of Disney, Broadcom and Chinese companies in the second quarter and reduced his position in Alphabet. This is evident from the fund's report filed with the Securities and Exchange Commission (SEC) on Form 13F. In a surprise move, Tudor Investment invested in the securities of a company popular with retail investors, Opendoor Technologies, which buys and sells real estate online. Its shares have soared 70% in the last week.

- According to a Form 13F filed with the SEC, Tudor Investment increased its stake in online real estate buying platform Opendoor Technologies from 228,000 shares to 2.68 million shares in the second quarter - a 1,000% increase from the previous quarter.

- Tudor added gold miners B2Gold and Coeur Mining to the portfolio.

- The hedge fund has also ramped up its use of index options, including the iShares Russell 2000 ETF and Invesco QQQ Trust, indicating a desire for greater diversification and exposure to the market, Benzinga explains.

- Tudor Investment fully sold shares in media conglomerate Walt Disney and chipmaker Broadcom.

- The fund also got rid of a number of positions in Chinese assets, notably significantly reducing both call and put options on the iShares China Large-Cap ETF.

- The fund exited the ProShares Bitcoin ETF, but slightly increased its stake in the iShares Bitcoin Trust ETF.

- Tudor has cut a position at Alphabet, Google's parent company, which could indicate a cautious approach to AI and the so-called "Magnificent Seven," Benzinga believes.

Tudor Investment invested in Opendoor Real Estate Agency before the stock began a sharp rise. In April and June, the securities were priced below $1 and dipped to $0.51. Thursday trading closed at $3. The excitement that began in mid-July led to a 438% increase in Opendoor's stock price (from July 1 to August 14), and a 70% increase in the last week. Despite the recent volatility, the stock is still up 108% since the beginning of the year. It is not yet known whether Tudor Investment has sold off after their rise - the fund will have to report on its third-quarter transactions within 45 days of the end of the quarter.

Opendoor's stock rose another 10% in trading on Friday after CEO Carrie Wheeler announced her resignation under pressure from investors, CNBC reported. They criticized the quarterly report released in early August. Opendoor said it has cut marketing spending and plans to buy only 1,200 homes in the third quarter - down from 1,757 in the second quarter and nearly triple the number from a year ago, when it bought 3,504 homes in the third quarter of 2024.

While some analysts call Opendoor a "meme stock," its supporters, including EMJ Capital fund manager Eric Jackson, disagree. Jackson was an unwitting instigator of the rise of these securities over the summer, writing an X post about the company's prospects. The post went viral with quotes among retail investors, Reuters wrote.

"When I first tweeted about Opendoor, I didn't think at all that this action would be considered a meme," Eric Jackson told the agency on July 24. - This is a real business. It's not just a case of investors pinning their hopes on some bogus crypto coin."

According to MarketWatch, half of the analysts tracking the online real estate agency's stock recommend selling it. Opendoor has four sell recommendations (Sell and Underweight), three hold recommendations (Hold) and only one buy recommendation (Buy). The Wall Street consensus price target is $1.02, down 66% from the close of trading on August 14.

This article was AI-translated and verified by a human editor