Digital real-estate companies Opendoor Technologies Inc. and Offerpad Solutions Inc. say they are ramping up their home-flipping businesses, despite another quarter of losses and Zillow Group Inc.’s shutdown of its house-flipping outfit this month.
Both companies reported record third-quarter revenue Wednesday and said they plan to expand into new markets. While their businesses have yet to show they can sustain profitability, Opendoor’s and Offerpad’s stock prices surged in after-hours trading after they released quarterly results and following several days of declines.
Source: https://www.wsj.com/articles/opendoor-offerpad-report-record-revenue-in-third-quarter-11636581297