Opendoor Technologies Inc. ( OPEN ) shares fell during Thursday’s session. The real estate tech firm faces a difficult mix of hot inflation data and heavy short-seller activity.

• Opendoor Technologies shares are retreating from recent levels. What’s weighing on OPEN shares?

Macro Headwinds Dampen Sentiment

The Bureau of Economic Analysis reported Thursday that the Core PCE price index — the Fed’s favorite inflation gauge — hit 3.2% in March.

This acceleration from 3% in February suggests persistent pricing pressure. Additionally, first-quarter gross domestic product (GDP) grew at a 2% annualized rate, missing the 2.3% economist forecast.

These figures indicate a cooling economy paired with sticky inflation, a combination that often pressures capital-intensive real estate stocks.

Rising Short Interest Pressure

Short interest in Opendoor ( OPEN ) recently climbed from 123.39 million to 124.13 million shares. Approximately 14.45% of the company’s float is now held by short sellers. Based on average daily volume, it would take 4.65 days for shorts to cover their positions.

Earnings Anticipation Builds

The sell-off comes as Opendoor ( OPEN ) prepares to report first-quarter financial results on May 7. Wall Street analysts currently project a loss of six cents per share. Revenue expectations sit at $667.54 million for the quarter.

Analyst Perspective and Market Context

Despite Thursday's slide, some analysts remain bullish. On Tuesday, Alliance Global Partners initiated coverage on the stock with a Buy rating and an $8 price target.

The Nasdaq is up 0.43% while the S&P 500 has gained 0.55%.

OPEN Stock Price Activity: Opendoor Technologies ( OPEN ) shares were down 4.84% at $5.32 at the time of publication on Thursday, according to Benzinga Pro data.

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