Opendoor has jumped 1,000% since late June. Could it do it again?

Opendoor Technologies ( OPEN -4.17% ) has been one of the best-performing stocks on the market in the last three months.

Shares of the online home flipper are up a whopping 787% during that time as of Sept. 8, though not much has changed fundamentally with the business. Instead, a meme-stock rally began with a hedge fund manager arguing that the stock could be the next Carvana , combined with increasing signs that interest rates could come down soon, which could revive the housing market and inject new life into Opendoor's business.

Could Opendoor stock make you a millionaire? Let's take a look at what the prospects are.

A company in flux

Opendoor went public as a special purpose acquisition company ( SPAC

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