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Opendoor Refinancing, Raises Debt

This is a news story, published by Yahoo Finance, that relates primarily to Opendoor Technologies news.

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The Motley Fool

The Motley Fool

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Business

Business & Economics

Shares of Opendoor Technologies are falling after the company announced it is refinancing convertible debt and taking on new debt

The Motley Fool

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64% Informative

Opendoor Technologies (NASDAQ: OPEN) announced it was refinancing convertible debt and taking on new debt.

As of 1:57 p.m. ET, the stock was down 18.9% today .

The company burned nearly $700 million in operating cash flow over the last four quarters .

The debt refinancing isn't necessarily a bad thing, as it gives the company more financial flexibility.

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