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.
Uber Technologies Inc (NYSE:UBER) has lagged the overall market so far this year, trading down nearly 10% year-to-date. Ritholtz Wealth Management's Josh Brown sees the stock's underperformance as an opportunity.
"I think Uber has a lot of potential and a very clear path for the stock working," Brown said Tuesday on CNBC's "Fast Money Halftime Report."
During the company's most recent earnings announcement, Uber reported its first-ever operating profit as a public company, Brown said.
Uber reported a quarterly adjusted earnings loss of 21 cents per share, which beat the estimate for a loss of 33 cents per share. The company reported quarterly revenue of $4.84 billion, which beat the estimate of $4.42 billion.
Uber also said that October was the best month in the company's 12-year history.
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Brown anticipates the current quarter will turn out to be Uber's first "actual profitable quarter." He he added to his stock position on Tuesday.
"I think this is a misunderstood stock," Brown said. "It's a glaring loser amongst my holdings, but I'm not ready to give up and I think that there is way more coming to this story in 2022."
UBER Price Action: Uber has traded as high as $64.05 and as low as $38.08 over a 52-week period.
The stock was up 5.99% at $46.22 at time of publication.
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.
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