New York — Eric Wu made his first foray into real estate as a student at the University of Arizona, using scholarship money to make a down payment on a rental property. Now, he has taken his company public through a merger with a special purpose acquisition company.

Opendoor Technologies began trading on Monday after the completion of the merger. The shares bounced between gains and losses and eventually closed at $31.25 in New York, 5.9% higher than the price on Friday...

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