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Opendoor Technologies Inc. (NASDAQ:OPEN) shares fell during Thursday’s session. The real estate tech firm faces a difficult mix of hot inflation data and heavy short-seller activity.
• Opendoor Technologies shares are retreating from recent levels. What’s weighing on OPEN shares?
Macro Headwinds Dampen Sentiment
The Bureau of Economic Analysis reported Thursday that the Core PCE price index — the Fed’s favorite inflation gauge — hit 3.2% in March.
This acceleration from 3% in February suggests persistent pricing pressure. Additionally, first-quarter gross domestic product (GDP) grew at a 2% annualized rate, missing the 2.3% economist forecast.
These figures indicate a cooling economy paired with sticky …
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