27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
Cannabis company iAnthus Capital Holdings, Inc. (CSE:IAN) (OTCPK: ITHUF) reported its financial results on Tuesday for the three and six months ended June 30, revealing a 57% surge in revenue for the second quarter of 2021, reaching $54.2 million.
Gross profit totaled $31.3 million over the same period, representing a 66% improvement from the corresponding quarter of 2020.
The gross margin was 57.7% reflecting a 3.2% spike from 54.5% in the same period of last year.
The net loss amounted to $15.3 million versus a $24.8 million loss in the second quarter of last year.
Adjusted EBITDA, a non-GAAP measure, came in positive at $13.5 million, representing a $0.7 million increase from the prior year.
Over the last year, the New York and Toronto-based company struggled to secure funding due to several challenges it has faced.
Management changes that shook iAnthus up for over a year included the departure of co-founder and CEO Hadley Ford, who was under review for allegedly taking out two undisclosed loans, amounting to $160,000; Joy Chen's stepping down from the position of director after serving on the board for a year and Mark Dowley's resignation from the same board in May 2020.
Other setbacks the multi-state cannabis operator has been experiencing are related to the company's secure lender, Gotham Green Partners, which demanded repayment of more than $160 million in debt in June 2020.
After being suspended from trading on the Candian Securities Exchange, for not delivering
its financial reports on time, the company was re-instated.
iAnthus’ shares were trading 4.80% higher at $0.186 per share at the time of writing Tuesday evening.
Photo: Courtesy of Andre Taissin on Unsplash
27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
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