From Opendoor to Nextdoor, some of the most audacious American retail investors seem to have found their own "door" to making money this year, and Eric Jackson, the founder of EMJ Capital, the hedge fund that propelled the two hottest stocks to their peak, seems to have become the new "leader" of American retail investors...
Market data shows that shares of the US social media platform Nextdoor surged 25.87% on Wednesday, with early gains reaching an astonishing nearly 50%, marking its biggest intraday gain in over four years.
The stock's rapid surge overnight was driven by Jackson, the man behind the retail investor frenzy that fueled earlier-year rallies in stocks like Opendoor Technologies and Better Home & Finance, who expressed optimism about the community social media app.
Nextdoor, which went public in 2021 through a special purpose acquisition company (SPAC) merger, is a community-focused social media platform that provides users with a way to connect with neighbors, access local news, and receive recommendations. The company reported revenue growth last month, but profitability has remained lackluster.
However, Jackson's latest social media post argues that the company is "one of the most misunderstood platforms on the market," and its AI potential has not yet been recognized by the market.
Jackson points out that Wall Street traders still view the company as primarily reliant on low-growth local advertising, but the company actually "has artificial intelligence at its fingertips." "One of the most irreplaceable identity graphs of our time." He emphasized that the platform's core advantage lies in covering over 100 million verified household users with real identities, while the platform's bots... There are almost no accounts.
Jackson stated that in each cycle, "some platforms have been misunderstood for years... until a certain moment when everything is redefined," and Nextdoor's current stock price of only about $2 may be at such a moment.
Jackson wrote, " Identity + Trust + Geographic Proximity + Artificial Intelligence – this is a rare combination ." He believes the market has underestimated Nextdoor's strength.
The new "leader" of retail investors
It's worth mentioning that Jackson has hyped up certain trending stocks more than once this year...
As an online investment "celebrity," Jackson often uses his social media followers and occasional media appearances to tout the stocks he chooses.
As previously reported by Cailian Press, Jackson's bullish comments earlier this year injected strong momentum into another popular stock, OpenDoor. On July 14, he announced the purchase of 200,000 shares of OpenDoor stock, believing the stock could rise to $82. OpenDoor subsequently became a social media sensation—achieving double-digit gains for six consecutive trading days.
Although OpenDoor's stock price has retreated somewhat since September, the company has still surged more than 360% year-to-date. Most of these gains occurred after Jackson began strongly recommending the stock.
Jackson's hedge fund also drove up the stock price of another internet sensation, Better Home, by 176% in September, prompting comparisons to Keith Gill, the social media influencer known as "Roaring Kitten," who initially sparked the meme craze.
(Article source: CLS)
