$OPAD

Offerpad Solutions Inc - Class A

$OPAD

Offerpad Solutions Inc - Class A

Past 12mo:4mentions1voices

All voices4 mentions since Dec 2025calls only

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Frequently asked

Who mentions $OPAD most on Surfaced?

@gnoble79 (George Noble) mentions $OPAD most — 4 mentions in the past 12 months.

When was $OPAD first mentioned on Surfaced?

The earliest tracked mention of $OPAD in the Surfaced archive was on Dec 21, 2025.

How many voices track $OPAD?

1 FinTwit voice has mentioned $OPAD 4 times in the past 12 months.

What kind of voices mention $OPAD most?

$OPAD is mentioned most by Long Research voices on Surfaced.

Recent mentions

4 mentions

@gnoble79Dec 22, 2025 · 1:13 AM

@MarkLStonk The comparison, while imperfect, is actually unfair to $COMP as it is asset light and very profitable vs $OPEN which is asset heavy and loss making!!! Despite that, $OPEN is wildly overvalued with that comparison. $OPEN is also very expensive on book value or revenues when compared to the Ibuyer $OPAD . Question for you, not meant to offend, but do you work in finance? How many accounting and finance classes have you taken?

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@gnoble79Dec 21, 2025 · 11:30 PM

@MarkLStonk You need to read more carefully. I said the $OPAD valuation on ev to sales would imply 16 cents for OPEN. The $OPAD price to book would imply $1.35. You have it bass ackwards.

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@gnoble79Dec 21, 2025 · 10:21 PM

My calculation has zero errors. You fail to grasp the difference in accounting between $OPEN and other companies. Real estate brokers such as Compass (an imperfect comparison to $OPEN but close enough) record only their commissions as revenues, (estimated $7b for 2025 on $267b transaction volume with an EV of $6.2b) whereas $OPEN records their transaction volume (estimated $4.9b for 2025 and $350mm in net revenues and EV of about $7b) To make a like for like comparison I use net revenues. You could alternatively use gross transaction volume, but on that basis if $OPEN is $6.36, then that would imply a price of for $COMP of $678; last sale was $10.58. Clearly that is ridiculous. $OPEN is valued at 1.4x gross transaction volume while by the same measure $COMP is valued at .022x gross transaction volume. Here is another way to think about it. Imagine two ticket resellers. They each charge a 5% commission. Broker A books only his commission as revenues while broker B books the entire value of the ticket. In economic terms the transactions are identical, but broker B revenue will be 21x that of broker A. To blindly compare the stated revenue recorded on the income statement would be analytical malpractice. That is basically what @ericjackson does and why I have been so critical of him. Finally, we can compare $OPEN to $OPAD, which is a publicly traded Ibuyer. OPAD is valued at EV to sales of .3 and 1.2x book. Applying those metrics to $OPEN would imply a share price of 16 cents and $1.35 per share, respectively. No matter how you slice it, $OPEN is wildly overvalued. I hope that helps.

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@gnoble79Dec 21, 2025 · 10:18 PM

@MarkLStonk My calculation has zero errors. You fail to grasp the difference in accounting between $OPEN and other companies. Real estate brokers such as Compass (an imperfect comparison to $OPEN but close enough) record only their commissions as revenues, (estimated $7b for 2025 on $267b transaction volume with an EV of $6.2b) whereas $OPEN records their transaction volume (estimated $4.9b for 2025 and $350mm in net revenues and EV of about $7b) To make a like for like comparison I use net revenues. You could alternatively use gross transaction volume, but on that basis if $OPEN is $6.36, then that would imply a price of for $COMP of $678; last sale was $10.58. Clearly that is ridiculous. $OPEN is valued at 1.4x gross transaction volume while by the same measure $COMP is valued at .022x gross transaction volume. Here is another way to think about it. Imagine two ticket resellers. They each charge a 5% commission. Broker A books only his commission as revenues while broker B books the entire value of the ticket. In economic terms the transactions are identical, but broker B revenue will be 21x that of broker A. To blindly compare the stated revenue recorded on the income statement would be analytical malpractice. That is basically what @ericjackson does and why I have been so critical of him. Finally, we can compare $OPEN to $OPAD, which is a publicly traded Ibuyer. OPAD is valued at EV to sales of .3 and 1.2x book. Applying those metrics to $OPEN would imply a share price of 16 cents and $1.35 per share, respectively. No matter how you slice it, $OPEN is wildly overvalued. I hope that helps.

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