Pure-Play iBuyers Go Big as Zillow Goes Home

In the iBuying Hunger Games, Opendoor Technologies is winning just by virtue of survival. But when the risks are this high, investors should want the rewards to look a lot more appealing.

Following the home-flipping flop of Zillow Group , one can choose to look at the iBuying industry as a runaway victory for Opendoor, which now owns a disproportionately large chunk of the Monopoly board, or a spectacular failure waiting to happen. Investors seem more disposed to the former view, sending shares of Opendoor up 15% after hours following its third-quarter financial results.