A basket of meme stocks compiled by UBS is on fire on Friday, up 4.9% as of 11:17 a.m. ET, led by a 17% surge in Opendoor Technologies.
Shareholders like Anthony Pompliano are trumpeting Federal Reserve Chair Jay Powell’s openness to additional rate cuts as a major catalyst for the online real estate company.
Interest rate cuts are big for $OPEN
Powell can unfreeze the housing market.
— Anthony Pompliano 🌪 (@APompliano) August 22, 2025
Head of EMJ Capital Eric Jackson, who’s been spearheading retail enthusiasm around the stock, told us that the outlook for rate cuts would be “nice to have in the back pocket with the other constellation of pluses in favor of Opendoor.”
At this point, we would be remiss not to note that rate cuts pursued by the Federal Reserve have yet to lead to a material reduction in US 30-year fixed mortgage rates. In fact, those borrowing costs are up about 50 basis points since the US central bank began cutting rates last September.
