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![convexititties Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1763355951480913920.png) Convexititties, CFA [@convexititties](/creator/twitter/convexititties) on x 2625 followers
Created: 2025-07-16 19:16:30 UTC

Let me make this nice and simple for you smooth brains. $OPAD peak EV / NTM rev multiple was 0.70x in October 2021. By the time it went public via SPAC in September of 2021, the CPI was >6% and the housing market would peak shortly thereafter, as mortgage rates rose sharply. That said, $opad has never traded at a “cyclical full multiple,” in my view. To that point, $open traded as high as 5x in February 2021, during the housing boom.

I ran the numbers to gauge the potential share price upside for $open and $OPAD at a range of EV / NTM revenue multiples from 0.5x-1.0x. I’ll let the results speak for themselves.

![](https://pbs.twimg.com/media/GwAHbVPXkAAmBkv.jpg)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1945563207885533683/c:line.svg)

**Related Topics**
[rates](/topic/rates)
[mortgage rate](/topic/mortgage-rate)
[housing market](/topic/housing-market)
[inflation](/topic/inflation)
[spac](/topic/spac)
[$opad](/topic/$opad)
[$open](/topic/$open)

[Post Link](https://x.com/convexititties/status/1945563207885533683)