(Reuters) – Shares of Opendoor Labs Inc, the home-selling platform backed by SoftBank Group, slipped in their market debut on Monday after an initial pop.
The company, which completed its merger with venture investor Chamath Palihapitiya’s Social Capital Hedosophia II on Friday, began trading at $31.47, up 6.7% from Social Capital’s last close.
However, shares soon reversed course and fell nearly 11% in a weak broader market.
(Reporting by Sohini Podder in Bengaluru and Joshua Franklin in Miami; Editing by Sriraj Kalluvila)
