Opendoor CEO Carrie Wheeler's departure comes as retail investors pushed the stock up more than 200% in the last month.

Opendoor (OPEN) shares closed higher on Friday after the digital real estate platform said Carrie Wheeler – its chief executive and chair of the board – is stepping down from both of her top roles. The online company that buys and sells residential property has already started looking for a new CEO.

Shrisha Radhakrishna has been named president and interim leader of Opendoor, the company said in a statement Friday. Opendoor shares soared Friday, rising as much as 16% before paring the gain slightly.