SRx Health Solutions, Inc. (NYSE: SRXH) shares dipped slightly Friday, on the announcement that it has invested in the common stock of Opendoor Technologies Inc., a leading digital platform for residential real estate transactions.
The North Palm Beach, Fla.-based company says the investment was made as part of SRXH’s broader capital allocation strategy, which seeks to deploy excess liquidity into publicly traded securities such as Opendoor, digital assets, and commodities such as gold and silver that management believes are undervalued and offer attractive risk-adjusted return potential for shareholders.
Opendoor Technologies operates a technology-enabled platform designed to simplify the buying and selling of residential real estate through data science, automation, and streamlined customer experiences. SRXH believes Opendoor’s platform, market position, and long-term growth opportunities align with the Company’s investment objectives.
The Company may increase or decrease its ownership position in Opendoor Technologies from time to time, depending on market conditions, valuation, and other strategic considerations. This investment does not impact SRXH’s core operational focus.
SRHX shares lost less than a cent, or 3.4%, to 18 cents.
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