Shares of Better Home & Finance Holding Co. soared after Eric Jackson said his hedge fund had bet on the stock, echoing the retail-driven rally he kicked off in Opendoor Technologies Inc. in July.
Shares of the online mortgage company known as Better rose as much as 176% on Monday, triggering multiple halts for volatility, before paring gains to 47%. They've now gained more than 450% so far this year.
In series of posts on the social-media site X, Jackson
As part of the bullish rationale, Jackson said Better's artificial-intelligence efforts will let it scale lending dramatically while keeping headcount low. He also said the firm is "growing faster than" blockchain-based credit company Figure Technology Solutions Inc. but trades at a significant discount based on expectations for next year's sales. Figure's shares are up around 74% from their initial public offering price after the company
Better did not immediately respond to a request for comment.
It's the latest market-moving post from Jackson, whose bullish comments about Opendoor
Opendoor became the first of a new crop of so-called meme stocks, and Jackson himself became something of a meme among online stock-market enthusiasts. For instance, his face was superimposed onto a photo of Keith Gill, better known as Roaring Kitty, the
Jackson was a vocal critic of Opendoor's chief executive officer before Carrie Wheeler
"It's everything I could've asked for and more. It's a dream team," Jackson
