United States Representative Cloe Fields has seen his stake in Opendoor Technologies (NASDAQ: OPEN) stock return over 200% in just a matter of weeks.
According to congressional trade filings, the lawmaker purchased a stake in the online real estate company on July 21, 2025, investing between $1,001 and $15,000. At the time, the stock was trading around $2 and had been largely stagnant for months.
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The trade has since paid off, with Opendoor surging to $10, a gain of nearly 220% in under two months. By comparison, the broader S&P 500 index rose less than 5% during the same period.
Assuming he invested a minimum of $1,001, the purchase would now be worth about $3,200, while a $15,000 stake would have grown to nearly $48,000, generating profits of roughly $2,200 and $33,000, respectively.
OPEN’s stock rally
Notably, Opendoor’s rally has been fueled by major corporate shifts and market speculation. For instance, in August, the company named former Shopify COO Kaz Nejatian as CEO, while co-founders Keith Rabois and Eric Wu rejoined the board, moves seen as a return to the company’s early innovative spirit.
Outgoing CEO Carrie Wheeler’s resignation and sale of millions in stock reinforced the sense of a new chapter.
Beyond leadership changes, Opendoor’s surge has taken on meme-stock characteristics. In this case, retail investors piled in as shares climbed, while short sellers scrambled to cover, pushing prices higher.
However, the stock is still not without challenges, where its iBuying model is untested at scale, margins are thin, and debt tied to housing inventory is substantial. Analysts caution that sentiment, not fundamentals, is driving the rally, leaving the stock vulnerable to sharp reversals.
For Representative Fields, the timing was nearly perfect. He bought shares just before the announcements that sparked the rally and before retail investors drove the stock higher. There is no public evidence that he had access to non-public information, but the coincidence raises questions.
Featured image via Shutterstock
