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.
Amazon.com Inc. (NASDAQ:AMZN) shares will continue to surge even after the coronavirus (COVID-19) pandemic ends, according to Mark Cuban.
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!
The pandemic has forced inherent changes in consumer behavior, the Dallas Mavericks owner told CNBC. Civilian lockdowns imposed to curb the spread of the coronavirus have made consumers comfortable with e-commerce, and this change is likely permanent.
"People who weren't comfortable dealing with Amazon for consumables, for food, for produce even, I think they've gotten to that habit now," Cuban told CNBC.
"I think Amazon just takes off," said Cuban, a longtime shareholder of Amazon's stock. "I think it goes up, up, up, up, up."
The "Shark Tank" star said that consumers being scared of going back to physical stores will also play a role in keeping the demand for Amazon's services high.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
Why It Matters
Amazon shares closed Monday's session 0.8% higher at $2,393.61. The stock is up 29.5% year-to-date.
The e-commerce giant last week added 100,000 people to its workforce in warehouse and delivery roles over the course of a month, and was looking to add another 75,000 employees as soon as possible.
Amazon has announced a host of measures to support employees during the pandemic, including grants paid leaves for those who contract COVID-19, and an additional relief fund. Nevertheless, workers have protested what they say are lack of safety measures across Amazon warehouses in the U.S.
Related Links:
How The COVID-19 Pandemic Turned Amazon, Netflix Into Essential Businesses
Amazon Analyst Says This 'Strategic Asset' Could Bring $15B In Revenue
Photo credit: Gage Skidmore, Wikimedia Commons
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.