Offerpad Solutions Inc. Class A Common Stock

Opendoor Technologies stock is falling 7% to $2.79 in early Thursday trading, deepening a slide that now has shares down 51% year to date, after Chief Executive Kaz Nejatian conceded on X Wednesday that the company's adjusted net income break-even timeline has slipped by six to eight weeks. Nejatian said housing conditions deteriorated sharply in the final two weeks of August, with clearance slowing and delistings staying elevated, and that Opendoor will now price to clear homes even where that pressures margins. The admission landed in the same week the benchmark Treasury note yield climbed to a three-year high, a bigger problem for Opendoor than for peers because it buys homes onto its own balance sheet and carries them until resale, so higher long-term yields lift interest expense on its inventory book and slow the pace at which homes clear at target margins. Opendoor still expects revenue to climb 10% to 15% year over year in the current quarter and still targets adjusted net income profitability on a twelve-month forward basis by year-end, a tight window given revenue fell 44% year over year in the prior quarter. Offerpad Solutions fell 2% to $3.77 and Zillow Group slid 3% to $31.91, with their capital-lighter models shielding them from the inventory-carry yield damage, while the iShares U.S. Home Construction ETF dropped 2% and the SPDR S&P 500 ETF Trust fell 0.69%.