5 Best Stocks to Buy According to Ari Zweiman’s 683 Capital Partners

3. Opendoor Technologies Inc. (NASDAQ:OPEN)

683 Capital Partners’ Stake Value: $44,415,000

Percentage of 683 Capital Partners’ 13F Portfolio: 3.13%          

Number of Hedge Fund Holders: 39

Opendoor Technologies Inc. (NASDAQ:OPEN) must be finding itself in a problematic predicament as it operates a tech platform that deals in real estate, and stocks from both those industries have been crushed this year. Seen in that context, it is not difficult to explain why Opendoor Technologies Inc.’s (NASDAQ:OPEN) stock is trading down by 70% year-to-date. Opendoor became a publicly traded company in late 2020 through a merger with a SPAC.

After making its debut, the stock more than tripled to over $30 from $10 in a short span but lost most of those gains amid the crash in the broader market at the onset of the COVID-19 pandemic. It again made a recovery and was trading close to the $20 level during the third quarter of 2020 when 683 Capital Partners initiated its stake in the company. Since then, it has only gone downhill as it currently trades below the $5 mark.

Despite its recent performance, most analysts who cover the stock on Wall Street remain bullish on its future trajectory. 9 of the 15 Wall Street analysts covering the stock currently have a ‘Buy’ rating on it with a consensus price target of $13.14, representing a potential upside of a whooping 188% from the stock’s last closing price.