Nextdoor Stock Takes Off: Why a Hedge Fund Manager is Bullish

Nextdoor's stock price shot up by nearly half its value recently. This big jump happened because a well-known hedge fund manager, Eric Jackson, shared his positive views on the company. Jackson, who runs EMJ Capital, thinks Nextdoor is often misunderstood. He argues that Wall Street is undervaluing Nextdoor. They see it as a simple local advertising platform. But Jackson believes it's much more than that. He points out that Nextdoor has a huge network of real, verified households. This makes it a strong player in the world of artificial intelligence. Jackson's opinions have moved markets before. His bullish calls have significantly boosted stocks like Opendoor and Better Home. However, these stocks have also seen big swings. Opendoor, for example, surged by over 360% this year but has since pulled back. Nextdoor isn't new to controversy. Before going public, it faced allegations of overstating its active user numbers. Despite this, the company has managed to grow its user base to over 100 million households. Jackson's hedge fund has a history of investing in volatile stocks. This has drawn comparisons to meme-stock influencer Keith Gill. Some critics question the fund's strategy, but Jackson remains optimistic about Nextdoor's potential.