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.
- Carsharing marketplace Getaround, Inc (NYSE:GETR) is prepared to downsize its workforce by 10% under its latest restructuring to contain costs.
- The restructuring plan also includes significant reductions to other operating expenses, including reducing the company's contract workforce and outside professional services.
- The move will likely save $25 - $30 million on an annualized run-rate basis.
- "In response to an uncertain near-term macroeconomic outlook, which has hit technology companies particularly hard, Getaround has made the decision to streamline its operations," said Sam Zaid, Getaround CEO. "These proactive changes include a difficult but necessary reduction in our North American workforce.
- Getaround has 421 employees, so the staff cuts should affect around 42 employees, TechCrunch reports.
- On February 1, the company received continued listing standards notice from the NYSE as the average closing price of the common stock fell below $1.00 over a consecutive 30 trading-day period.
- Getaround joined a bevy of companies, including Big Tech like Amazon.com Inc (NASDAQ:AMZN) and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), to reduce staff as businesses slowed down amid macro uncertainties after pandemic-driven growth.
- Price Action: GETR shares closed higher by 2.25% at $0.6540 on Thursday.
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.
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!