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Caleb Franzen described a disconnect between prevailing bearish sentiment and the performance of the world's second largest company, which has reached new all-time highs while the average stock is rising quickly.
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Franzen previously highlighted Opendoor's decline, noting the stock is down 87.8 percent since its IPO even as major indexes advanced (see article). In another note, he observed a bearish engulfing pattern in the S&P 500, with tech and growth shares underperforming their cap-weighted counterparts (see article). These observations come as he tracks divergence across equities.