Better Home & Finance Holding Company (NASDAQ: BETR) shares powered 45% higher to $72.49 in late-morning trading on Tuesday after activist investor Eric Jackson called the artificial intelligence (AI)-Native mortgage lender "the Shopify of mortgages."
Jackson, founder of hedge fund EMJ Capital, had previously thrown his support behind Opendoor Technologies, which surged 1600% over three months following his endorsement.
Jackson noted Better Home & Finance’s AI systems as key competitive advantages in the $15 trillion mortgage industry.
He predicts the company could become a “350-bagger” with shares reaching $12,000 from current $34 price.
Jackson noted that Better Home & Finance trades at 1x forward sales compared with competitor Figure Technologies that trades at 19x despite BETR having a faster growth rate.
Better Home & Finance shares have skyrocketed more 693% year to date.