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EN
Better shares soar on bullish thesis by activist investor Eric Jackson
['Matt Carter']
Inman Real Estate News
Shares in Better Home & Finance soared Monday on a bullish assessment of the money-losing mortgage lender’s prospects by Eric Jackson — the activist investor whose interest in Opendoor Technologies helped spawn a stock rally and CEO ouster in August.
That set off a flurry of trading, with more than 7 million shares bought and sold — about 85 times more than the average volume.
Known for its technology, Better saw business boom when homeowners rushed to refinance during the pandemic.
After funding $58 billion in loans in 2021, Better racked up an $889 million loss the following year when mortgage rates rebounded.
Better’s loan production dwindled to $11.4 billion in 2022 and bottomed out at $3 billion in 2023.
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