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.
Lucid Group Inc (NASDAQ:LCID) shares soared 6.1% in extended trading on Monday after the electric vehicle company said it had finalized a $1.5 billion equity offering, first announced in November.
What Happened: The Newark, California-based EV maker raised the bulk of cash — nearly $915 million — from a private sale of almost 86 million shares to Saudi Arabia’s Public Investment Fund.
The rest of the 600 million was raised through a traditional secondary stock offering, in which the Peter Rawlinson-led company sold an additional 56 million shares.
Rawlinson is known for his work as a vehicle engineer on rival Tesla Inc (NASDAQ:TSLA)’s Model S and also Lucid’s own Air.
See Also: How To Buy Electric Vehicle (EV) Shares
Why It Matters: Lucid said it expects the additional capital raised will “further strengthen its balance sheet and liquidity position.”
Lucid has reported $3.85 billion in cash in its third-quarter 2022 earnings. This is expected to fund the company at least into the fourth quarter of 2023.
Tesla CEO Elon Musk took a swipe at Lucid’s offer of discounts this month by saying “They are not long for this world.”
They are not long for this world
— Elon Musk (@elonmusk) December 9, 2022
Price Action: Lucid shares closed 1.9% lower at $7.23 in regular trading and rose 6.1% to $7.67 in the after-hours session, according to Benzinga Pro data.
Read Next: No Quits? Elon Musk Says Twitter Will Restrict Voting In Policy Polls To Just Blue Subscribers
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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