Opendoor stock soared nearly 900% thanks to Reddit hype -- but here's why that could spell disaster for investors.

In a statement Friday, Opendoor said that Chief Executive Carrie Wheeler, who also chaired the company’s board, was stepping down from her roles effective immediately. Shrisha Radhakrishna, the company’s chief technology and product officer, has been appointed president and interim leader.

Opendoor is surging again, adding to a streak of gains that kicked off this month following July's big rally. Here's what's driving the stock up.