11:03 AM EDT, 09/11/2025 (MT Newswires) -- (Updates with the stock move in the headline and first paragraph.)

Opendoor Technologies ( OPEN ) shares rose 52% in recent Thursday trading, a day after the company named Kaz Nejatian as chief executive officer and a board member.

Nejatian was most recently chief operating officer of Shopify ( SHOP ) .

Opendoor ( OPEN ) also appointed co-founders Keith Rabois, Khosla Ventures managing director, and NavigateAI co-founder Eric Wu to its board. Rabois will serve as board chairman, while Wu becomes lead independent director, effective immediately, the company said.

Khosla Ventures and Wu invested $40 million in Opendoor ( OPEN ) equity through a private placement. Proceeds will be used to fund continued investment in the business, the company said.

Shopify ( SHOP ) shares rose 2.8%. The company said the executive team will assume Nejatian's responsibilities.

Price: 8.85, Change: +2.99, Percent Change: +50.99