The Rundown - Opendoor Soars 50% After Naming New CEO, Figure ($FIGR) Awaits First Trade

Episode Date: September 11, 2025

Stock market update for September 11, 2025. This video is for informational purposes only and reflects the views of the host and guest, not Public Holdings or its subsidiaries. Mentions of assets are not recommendations. Investing involves risk, including loss. Past performance does not guarantee future results. For full disclosures, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Public.com/disclosures⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

Public.com presents the rundown. Your daily market update in under 10 minutes. My name is Zadadmani, and today is Thursday, September 11th. In today's episode, we'll tell you what the latest inflation report just said and why investors don't think it'll impact the Fed's decision. We'll also preview the upcoming IPO from Figure and discuss Chipotle's plans for international expansion. Then stick around to the end of the show to find out about the latest big tech company jumping into the self-driving car space and how they're doing it differently than Waymo and Tesla. We get a great show for you today.

Let's go. The stock market kept moving higher on Wednesday with the S&B 500 up 0.3% hitting another record high, and the NASDAQ edged out a 0.03% gain as well. The big move yesterday was Oracle's 36% jump, which added over $244 billion. to Oracle's market cap. That was the biggest move in Oracle's stock since 1992. We broke down the reason for Oracle's big jump on yesterday's episode, so go check that out if you missed it. Yesterday was also the IPO debut of Klarna. The buy now, pay later company went public at $40 a share and saw a reasonable 15% pop on its first day of trading, closing the day at $45.

So we didn't get the crazy 100% pop like we saw with Figma and Circle earlier this summer, which I think is a good thing. It means that the Klarna investment bankers priced the IPO properly. We've got a couple more IPOs coming up this week. We're going to talk about those in a bit. Now, the big news for today is the CPI report, which dropped this morning. And according to this report, inflation in August was up 2.9% on an annual basis and up 0.4% compared to the previous month. Those numbers are slightly hotter than expected, but not by much. Economists like to pay attention to the core inflation number because it's a better gauge of inflation trends. since it removes volatile prices like food and energy.

And core inflation was up 0.3% on a month-to-month basis and up 3.1% on an annual basis. So this is just another data point showing that inflation has been sticky in the 2.5 to 3% range. You know, the Federal Reserve's target for inflation is 2%, but the market doesn't think that these inflation numbers will stop the Fed from cutting interest rates. Right now, the market is pricing in a 100% chance of a rate cut.

In fact, there's a 10% chance of a jumbo, 50 basis point cut. So we'll officially find out next week the Fed meeting kicks off on September 16th and wraps up on September 17th. So make sure you guys are subscribed to the podcast and tuning in every day to stay in the loop. Let's run through some headlines. And let's start with another IPO happening today. The blockchain tech company figure is officially going public today. Now, this company might not be a household name like Clorna is, but the IPO is generating a a lot of hype. Figure launched back in 2018, and their goal is to build the future of capital markets using blockchain-based technology. So far, the company has facilitated about $16 billion in loans

already, with $11 billion of that coming in just the last 18 months. Right now, most of Figuers' business is in the home equity line of credit or helix. Normally, that's a space dominated by banks like Bank of America and J.P. Morgan, but Figer has carved out a niche by using blockchain to speak things up. Currently, the industry average to fund a HELOC is about 42 days. Figure says it can do it in just 10. But that's just the beginning for Figure. Their bigger pitch is they want to reinvent how capital markets operate and bring them onto the blockchain. So think like trading and financing assets and eventually equities all happening on the chain. It's a pretty bold vision, but investors seem to be buying into the vision. The demand for Figures' IPO seems to be strong.

A figure is pricing their IPO at $25 a share, which is above the original $20 to $22 range. Now, fun fact, this isn't the first time that figure has tried to go public. They tried the SPAC thing back in 2022, but that fell apart. But this time they're going public at a pretty favorable moment. The IPO window is wide open. We're seeing a ton of IPOs recently. And I think this figure IPO could have some juice on its first day of trading. So I'll be keeping an eye on that.

The stock will trade under ticker symbol FIG all. Let's shift gears and talk about Chipotle. Chipotle is planning to expand to Asia for the first time with new restaurants set to open in South Korea in Singapore in 2006. This expansion is part of a joint venture with a Korean restaurant company called SPC Group. Now, this is a big move for Chipotle, which is still overwhelmingly a U.S. business.

In fact, 98% of their 3,800 restaurants are stateside. The company has been slowly expanding internationally with restaurants already open in Canada, Europe, and the Middle East. They're also going to be opening up some restaurants in Mexico soon, and now Asia next year. You, Chipotle kind of needs international expansion to be their next growth engine. The company's been trying to find new avenues for growth because their revenues only grew by 3% year over year in their most recent earnings. You know, for years, Chipotle put up double-digit gains in revenue, but now same store

sales have fallen for two straight quarters. And that slowdown has dragged the stock down about 35% year so far. Chipotle's CEO mentioned recently that the company's strategy moving forward is new menu items, better execution at existing stores, and expanding to new communities around the globe. He didn't unfortunately say anything about free guac. No, I think the international expansion should work, but we'll have to see. It seems like the company's future really depends on it. Let's talk about some stocks making moves today.

Open door stock is just having one of those breakout days. shares of the online real estate platform are soaring more than 35% after the company named a new CEO. Kaz Nahatian, who was the former C.O.O. of Shopify, Nehatihan spent six years at Shopify running product and operations, and now he's taking the reins at Open Door as the CEO. Co-founders of Open Door, Keith Rabeoy and Eric Wu are also coming back to the company and joining the board of directors. Keith Rabeoy was not a big fan of the previous CEO, Carrie Wheeler, and she eventually stepped down last month after facing pressures. The rally in Open Door stock over the last couple months has been insane.

The stock was trading under a dollar back in June and at the risk of being delisted from the NASDAQ. But then hedge fund manager Eric Jackson got involved. He started touting Open Door as the next Carvana with 100x upside. So he's been tweeting about the company nonstop and that caught the attention of retail investors and the stock has already popped more than a thousand percent from its low. back in June. In a post on X, the new CEO Nehatihan said his goal is to scale home ownership for Americans in a similar way that Shopify scaled entrepreneurship. Not really sure what he means

there, but investors are eating it up. Now, speaking of meme stocks, the OG meme stock GameStop is trading lower this morning after cooling off from their post earnings bump on Wednesday. GameStop actually beat earnings estimates for Q2 driven by a 63% jump in sales of and hardware and accessory sales saw a 31% jump thanks to strong demand for the Nintendo Switch 2. Now remember, GameStop also started buying Bitcoin this past summer, and they reported its total value on the balance sheet is now worth nearly $530 million. Now, GameStop stock initially popped 3% after the earnings beat, but now is down more than 2% this morning in pre-market trading.

Let's wrap the show with a fun fact. Amazon self-driving taxi company, Zooks, just launched in Las Vegas this week, and the rides are going to be free, at least for now. Now, these Zook's cars aren't just regular cars slap with sensors on them, like a Waymo or a Tesla Robo Taxi. A Zook's car looks totally different. It doesn't have any steering wheels or pedals. It just has two rows of seats facing each other and Florida ceiling windows. It looks very futuristic, and it drives by itself. So, yeah, it seems like we got another big tech.

company entering the self-driving party. Now, they have a lot of catching up to do. Google's Waymo has already done more than 10 million paid rise and they're available in five cities and expanding to more cities next year. But Amazon has deep pockets and they're planning to expand Zooks's service in Vegas and they're starting an early writer program in San Francisco by the end of this year. So yeah, keep an eye on Zooks. They might end up making some noise over the next couple years. And this just shows that the competition in the self-driving space is just getting started. Waymo has the early lead. Tesla's making some noise. And now we have a company like Amazon Zooks coming in. This is just another reason why we as a podcast need to go to Vegas soon. We can hit up the

sphere, which is a publicly traded company and do a deep dive on them. We could also try out these Zook's cars now. So we might have to make that happen pretty soon. Also, if anyone listening to this show is going to be in Vegas soon or lives in Vegas, go try out one of these Zook's self-driving cars. and let us know how it was. Also, we want to do more Q&A episodes. So if you guys have any questions that you want us to answer, please ask them in the comments

on Spotify or YouTube. Well, all right, guys, that's the rundown for today. Hope you guys enjoyed today's episode. If you did, and you have like nine extra seconds, consider giving us a five-star rating on Apple, Spotify, wherever you listen to your podcast.

And if you are listening on Spotify, don't forget the vote in today's Spotify poll. Leave us a comment on Spotify. All that engagement really does help us out, and it helps other people find the show. Thank you guys so much for listening, watching, and commenting. Shout out to Mike and Connor for all the work behind the scenes. And we'll see you guys back here tomorrow. Rosen lasagna, medium power, 15 minutes.

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