24H | Opendoor, Ondas Holdings Gain over 6%; Tilray Rises over 4%; PDD Holdings Jumps Nearly 2%

PDD Holdings stock rose nearly 2% in overnight trading. PDD is scheduled to announce Q2 earnings results after the market closes on Monday, August 25th. The consensus EPS Estimate is $2.06 (-35.6% Y/Y) and the consensus Revenue Estimate is $14.36B (+7.5% Y/Y). Over the last 2 years, PDD has beaten EPS estimates 75% of the time and has beaten revenue estimates 50% of the time.

Cannabis stocks continued to rise in overnight trading. Tilray up over 4%; Canopy Growth up over 2%.

Shares of Opendoor Technologies rose more than 6% in overnight trading after skyrocketing 40.56% in Friday's trading session, reaching a one-month high as investors reacted to Federal Reserve Chairman Jerome Powell's dovish remarks and renewed enthusiasm for the company's artificial intelligence (AI) initiatives.

Powell's speech at the Jackson Hole symposium signaled that interest rate cuts could be on the horizon, a development particularly significant for Opendoor. The company's business model, which relies heavily on borrowing to purchase homes, is especially sensitive to interest rates. Lower rates could potentially boost Opendoor's bottom line by reducing its operational costs and stimulating customer demand in the real estate market.

Ondas Holdings has announced that it has entered into a Share Purchase Agreement with Apeiro Motion Ltd., a company based in Israel, and its shareholders.

As part of the agreement, Ondas will acquire 100% of the issued and outstanding share capital of Apeiro for a total consideration of $12,000,000 in cash. However, Ondas has the option to pay a portion of the consideration in its common stock to a founder of Apeiro. The acquisition is expected to close in the third quarter of 2025, subject to customary closing conditions and regulatory approvals.