Opendoor's stock has taken off like a rocket ship, leaving the new CEO with a lot to prove.

Opendoor Technologies ( OPEN -6.92% ) received a warning letter from the Nasdaq exchange this May that it would be delisted because its stock price was too low. That set in motion a series of events that have turned the stock into a rocket ship, with the shares up over 1,600% in just the last three months. A big part of the story is the company's hiring of Kaz Nejatian as CEO. What does this really mean for investors?

The backstory on Opendoor Technologies

The core business at Opendoor is house flipping. House flipping has long been the purview of small, local investors. The goal is basically to buy a house relatively cheaply, put in some minor improvements, and then sell the house for m

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