OPAD - Offerpad Solutions: Retaining Sell Rating With Headwinds Getting Stronger

2024-02-13 02:15:57 ET

Summary

• Offerpad Solutions is currently valued at less than a tenth of its IPO valuation.
• That does not make OPAD stock a buy as it continues facing internal and external challenges.
• It remains to be seen whether the new PRO and MAX programs spark a turnaround.
• I am sticking with my Sell rating.

I wrote my previous and, so far, only article on Offerpad Solutions Inc. ( OPAD ) more than four months ago in October 2023. With the company expected to report its Q4 earnings in a couple of weeks, I'd like to present this follow-up article to see how things stand now compared to more than a quarter ago....

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