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.
Reddit said Monday it raised more than $250 million in Series E funding from both existing and new investors.
What Happened: The social news aggregator and discussion website’s current investors include Tencent Holdings Ltd (OTC:TCEHY), Andreessen Horowitz, and Sequoia Capital, according to Crunchbase.
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Reddit has doubled its valuation to $6 billion in the latest funding round, which was led by Vy Capital, the Wall Street Journal reported.
Reddit CEO Steve Huffman said that it was a “good market to fundraise.”
“Valuations are very high right now. It never hurts to raise money when there’s an opportunity to do so and Reddit had a strong year,” the executive told the Journal pointing to a 90% YoY increase in advertising revenue in the quarter ended December.
Why It Matters: Reddit has been in the limelight after r/WallStreetBets, a community of retail investors on the platform, short squeezed stocks of GameStop Corp (NYSE:GME), AMC Entertainment Holdings Inc (NYSE:AMC), Blackberry Ltd (NYSE:BB), Nokia Oyj (NYSE:NOK) and others.
See Also: Reddit Pays Ode To GameStop 'Underdogs' In 5-Second Super Bowl Ad
“We are also readying to double the number of Reddit employees this year; it’s surprising not only for the pace of growth but also that such a relatively lean team has been behind one of the most visited websites in the world,” the social media company said in a statement.
Reddit purchased video-based social media platform Dubsmash in December. Facebook Inc (NASDAQ:FB) and Snap Inc (NYSE: SNAP) were also interested in purchasing the short-form video app.
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.