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.
Ride-hailing service Uber filed Thursday with the Securities and Exchange Commission for an initial public offering on the New York Stock Exchange under the ticker symbol "UBER," following its ride-hailing rival Lyft Inc (NASDAQ:LYFT) to Wall Street.
San Francisco-based Uber didn't list a targeted share price in its S-1 filing. Recent press reports suggest the company is hoping to raise about $10 billion, and reports suggest a valuation for the company of about $100 billion.
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!
Uber reported 2018 revenue of $11.3 billion in its filing and net income of $997 million. The IPO will be one of the biggest ever.
Uber said that it has incurred "significant" losses since the company's genesis and posted an operating loss of $3 billion in 2018.
"We expect our operating expenses to increase significantly in the forseeable future, and we may not achieve profitability," Uber said.
The company also noted that its business would be "adversely affected" if its drivers were considered employees rather than independent contractors.
'Undepenetrated Market Opportunity'
The company said the rapid growth and scale of its ride-hailing service demonstrates enormous opportunity, noting that rideshare revenue grew from $3.5 billion in 2016 to $9.2 billion in 2018, with gross bookings more than doubling over the same period.
Consumers traveled about 26 billion miles in Uber vehicles in 2018, the company said.
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.
"We believe that personal mobility represents a vast, rapidly growing, and underpenetrated market opportunity," the company said in the S-1 form, adding that it operates in 63 countries with an aggregate population of more than 4 billion.
Uber said it believes only 2 percent of that population is using the Uber platform now — meaning there's a big opportunity for additional use.
Uber's main competitor, Lyft went public last month and saw its shares drop by about 11 percent.
Lyft shares were up 1.48 percent at the close Thursday, but were falling more than 1 percent in after hours trading.
Other Info Uber's S-1
- Fiscal 2018 net income of $997 million
- Fiscal 2018 sales of $11.27 billion
Related Links:
On Its Way: Uber Plans To Sell $10B Of Stock In May IPO
Analyst: Uber Roadshow A 'Dark Shadow' Over Lyft
Photo courtesy of Uber.
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.