The interim CEO bought 30,000 shares of Opendoor stock last month.

Opendoor Technologies ( OPEN -9.17% ) stock popped by as much as 10% Monday morning. The stock remains highly volatile, and its next move showed investors why it's a risky bet. Shares lost all of those gains and more in heavy midday trading.

As of 1:22 p.m. ET, Opendoor stock was lower by 3.8% on the day.

Meme stocks aren't for investors

Traders who frequent the forums on social media platforms like Reddit have turned Opendoor into a meme stock . That has led to retail traders and some investors following it closely. Shares popped early Monday after reports were published highlighting a 30,000-share purchase by Opendoor's interim CEO .

Those reports triggered some heavy trading in the name; it surpassed i

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