27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Shares of Alliqua Biomedical Inc (NASDAQ:ALQA), a company that has unwound itself in phases, were more than doubling in value Wednesday. The stock was trading higher by more than 100 percent at $3.33 at the time of publication.
What Happened
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Alliqua announced an agreement Wednesday to spinoff of its AquaMed Technologies subsidiary and merge it with the Israeli cannabinoid-based pharma therapy company TO Pharmaceuticals LLC. The boards of both companies have approved the transaction.
The AquaMed unit manufactures electron beam cross-linked aqueous polymer sheet hydrogel products with high water content that are used by customers to make medical devices, cosmeceuticals and other commercial products.
The new company, TO Pharma, would develop novel therapeutics based on TO Pharma LLC's proprietary cannabinoid product platform in a number of FDA-regulated clinical indications and select OTC markets, according to Alliqua.
On completion of the deal, Alliqua's shareholders will retain a minority interest in the new company, while TO Pharma LLC's shareholders will hold a majority interest. Per the deal, Alliqua will distribute its shares of Aquamed on a pro rata basis to record holders of Alliqua before the consummation of the previously announced merger with Adnyxx.
The Benzinga Cannabis Capital Conference is the premier gathering of cannabis entrepreneurs and investors in North America. Click here to learn more about the event, which takes place Jan. 15-16 in Miami Beach, Florida.
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
Why It's Important
The deal provides Alliqua shareholders with an opportunity to capitalize on the market opportunity for cannabis.
"We are extremely excited to form this exciting new company in a fast-growing sector of the market," Alliqua CEO Dave Johnson said in a statement.
The newly created TO Pharma will seek a Nasdaq listing and domicile in Langhorne, Pennsylvania, Alliqua said. TO Pharma LLC's Seth Yakatan is expected to serve as CEO and Alliqua's Johnson is expected to serve as chairman.
The deal's projected timeframe for closing is the first quarter of 2019.
Related Links:
7 Companies That Entered The Cannabis Space In 2018
4 Potential Takeout Candidates In The Marijuana Sector
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.