Opendoor CEO steps down as the meme stock continues to soar Madeline BergAugust 15, 2025 at 10:29 PM The CEO of residential real estate firm Opendoor is stepping down following a surge in the stock.
- - Opendoor CEO steps down as the meme stock continues to soar
Madeline BergAugust 15, 2025 at 10:29 PM
The CEO of residential real estate firm Opendoor is stepping down following a surge in the stock.Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images -
Carrie Wheeler, the CEO of memestock Opendoor Technologies, is stepping down.
Her announcement comes as the company's stock is up more than 100% this year.
"The last weeks of intense outside interest in Opendoor have come at a time when the company needs to stay focused," she wrote.
Opendoor's CEO is out — and the stock is soaring.
Carrie Wheeler, the chief executive of Opendoor Technologies, announced on Friday that she's stepping down.
"The last weeks of intense outside interest in Opendoor have come at a time when the company needs to stay focused and charging ahead," Wheeler said in a post on X. "I believe the best thing I can do for Opendoor now is to accelerate my succession plans."
Opendoor shares were trading up 9% following the news.
Today, I am stepping down as CEO of Opendoor.When the Board of Directors asked me to take on this role at the end of 2022, the company was in crisis. The real estate market was punishing, the business needed a reset, and the path forward was uncertain. My mandate was clear:…
— Carrie Wheeler (@carriecwheeler) August 15, 2025
Wheeler's departure comes amid Opendoor's meme stock rally that has sent the residential real estate company's share price up nearly 220% in the past month. The stock is up over 100% since January.
Hedge fund manager Eric Jackson first drove the rally in July, when he posted that he believed OpenDoor "could be a 100-bagger over the next few years." (Jackson wrote on X that "I was on a livestream when she quit lol.")
Retail investors flocked to the stock, leading investor and tech entrepreneur Anthony Pompliano to post that he, too, had purchased shares.
A sharp uptick ensued.
Wheeler joined Opendoor as CEO in 2022 and helped turn the company around.
"We went from $1 billion in losses when I took over, to announcing our first quarter of positive EBITDA in three years this past quarter," she said in her social media post announcing her departure.
Story developing…
on Business Insider
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