Speaker is bearish on OPEN due to doubts about break-even progress and potential price-cutting in home sales.

Oh, I saw some comments about um the open door CEO freaking out. What was that? Open door CEO worst week. Two weeks of August were the worst. Oh, that was three weeks ago. Okay.

Okay. Okay. That was this. Let's take a look at this. A lot of speculation about uh open doors path to break even. I worry some folks where think we're further ahead rather than have you guess.

I want to Oh, interesting. Q3 is tracking to say things up front. We're not break even yet. A&I break even. I I don't know what is that adjusted net income. That sounds like bull crap is what that sounds like.

A and I it is adjusted net. Okay. So right. Okay. So what we're seeing is the actual numbers of the business the speed of underwriting accuracy. We're making a lot of progress.

TLDDR the worsting housing market pushed us to roughly 6 to 8 weeks behind on our adjusted EBIDA goal post. Contribution profit dollars increase contribution margin. We still expect A9 positive and our earnings call you make it right.

Long-term decisions not managed around a quarterly num uh number. August tested whether we meant it. It sounds like he wrote this with AI. So like you just you just tell. Uh it's not an excuse.

It's just what happened. Okay. We had a choice. Slow shell. Let's see here. Uh, let's see. I want to park inventory, want to sell homes. Yeah, that sounds to me like they just want to last week we saw to faster than market and cleared 19% faster than the market.

You know, a lot of the open door homes I've personally seen suck. Uh but if they're trying to sell them faster, that means they're trying to cut the prices on them. So, you know, what are they selling for now?

Because I I was very bearish on them above $5 and uh SpaceX still printing. I was very bearish on them above $5. They were like $6 to $10 for a period of time and we got bullish on them at 70 and then they ran all the way $5.

Everybody thought it was the best thing since sliced bread and people in taxis are talking about Open Door. I'm like, "All right, this is this is the top. This is really close to the top."

It's since come down to whatever it is now. Is it like 2 something? That said, uh oh, two about 230. That said, I did think we were getting closer to a bottom around 250. Not that I want to buy Open Door, but that's also in alignment with the peak yield idea and we have not hit peak yields yet, which was very interesting.

what are they selling for now? Because I was very bearish on them above $5 and uh SpaceX still printing. I was very bearish on them above $5. They were like $6 to $10 for a period of time and we got bullish on them at 70 and then they ran all the way $5.