Opendoor Has Now Plunged Below Its SPAC Price -- What Is Behind the Decline?

Opendoor Has Now Plunged Below Its SPAC Price -- What Is Behind the Decline?

The stock market was having a volatile day on Monday, with all three major market indices posting major declines. As of 10:45 a.m. ET, the S&P 500 benchmark index was down by more than 2% on the day and is now officially in correction territory, down more than 10% from its high point. Real estate technology company Opendoor (NASDAQ: OPEN) was a big underperformer.