Opendoor extends slide after a top holder offloaded $95 mln worth of shares

Shares of online residential real estate firm Opendoor Technologies OPEN.O down 7.3% at $7.77 on Tues, following >12% tumble in prior session

Opendoor late Mon reported in a filing Access Industries sold ~11.4 mln shares for $95.2 mln market value, with Sept 22 as approximate sale date, in Rule 144/unregistered block via Tourmaline Partners

Sale by the investment firm, run by Ukrainian-born billionaire Len Blavatnik, takes its holdings to ~31.3 mln shares, roughly 4.2% of OPEN's 742.1 mln shares outstanding, per LSEG

Access is the third largest OPEN shareholder, behind new CEO Kaz Nejatian (83.35 mln shares) and Vanguard (66.28 mln)

Access last dumped ~10.9 mln shares, worth about $100 mln, on Sept 12. OPEN shares shed nearly 14% in that session

On Sept 11, the meme darling's shares soared 80% to close at $10.52 after OPEN poached Nejatian from Shopify SHOP.TO as its new leader, and said co-founders Keith Rabois and Eric Wu will return to the board, with Rabois becoming chairman

Former CEO and board chair Carrie Wheeler stepped down from her roles in Aug amid pressure from investors

Even with the decline on Tues. OPEN shares up ~1,300% over the past three months