U.S. markets closed
  • S&P 500

    4,536.19
    +16.56 (+0.37%)
     
  • Dow 30

    35,609.34
    +152.03 (+0.43%)
     
  • Nasdaq

    15,121.68
    -7.41 (-0.05%)
     
  • Russell 2000

    2,289.77
    +13.85 (+0.61%)
     
  • Crude Oil

    84.25
    +1.29 (+1.55%)
     
  • Gold

    1,782.50
    +12.00 (+0.68%)
     
  • Silver

    24.38
    +0.49 (+2.06%)
     
  • EUR/USD

    1.1654
    +0.0016 (+0.14%)
     
  • 10-Yr Bond

    1.6360
    +0.0010 (+0.06%)
     
  • GBP/USD

    1.3825
    +0.0032 (+0.23%)
     
  • USD/JPY

    114.3230
    -0.0370 (-0.03%)
     
  • BTC-USD

    65,995.66
    +1,878.79 (+2.93%)
     
  • CMC Crypto 200

    1,538.50
    +57.70 (+3.90%)
     
  • FTSE 100

    7,223.10
    +5.57 (+0.08%)
     
  • Nikkei 225

    29,255.55
    +40.03 (+0.14%)
     

Why Is Offerpad Stock Soaring Today?

·2 min read
Why Is Offerpad Stock Soaring Today?
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

The stock market continued its September slump on Thursday with all three major indexes firmly in the red as of 11 a.m. EDT. First and foremost, Offerpad revealed a new credit line led by JPMorgan Chase (NYSE: JPM) in a Securities and Exchange Commission filing Wednesday evening. Offerpad's business of buying and flipping houses is very capital intensive, so even though the company received $284 million in cash as part of its recent IPO via a special purpose acquisition company, this new capital access is welcome news.