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.
Upstart Holdings Inc (NASDAQ:UPST) and Affirm Holdings Inc (NASDAQ:AFRM) shares are moving in different directions after the close Tuesday. Both companies reported quarterly results after the bell.
What Happened: Upstart reported first-quarter revenue of $103 million, which missed consensus estimates of $108.96 million. The company reported a quarterly loss of 47 cents per share, which was much better than analyst forecasts for a loss of 81 cents per share.
Upstart said it expects second-quarter revenue of $135 million versus estimates of $133.15 million.
"Despite the headwinds facing our industry, we secured multiple long-term funding agreements, together expected to deliver more than $2 billion to the Upstart platform over the next 12 months," said Dave Girouard, co-founder and CEO of Upstart.
The lending industry continues to face headwinds, but Upstart's long-term funding agreements appear to be the bright spot investors are focused on, which may be helping to propel shares higher after hours.
Affirm reported fiscal third-quarter revenue of $380.98 million, which beat estimates of $369.97 million. The company reported a quarterly loss of 69 cents per share, which beat estimates for a loss of 92 cents per share.
Affirm guided for fiscal fourth-quarter revenue of $390 million to $415 million versus estimates of $389.67 million. The company said it expects full-year 2023 revenue of $1.532 billion to $1.557 billion versus estimates of $1.52 billion.
Both Upstart and Affirm offer lending services. Upstart operates an AI lending platform partnering with banks and credit unions to expand access to affordable credit. Affirm offers a platform for digital and mobile-first commerce.
Upstart and Affirm are also heavily shorted. Upstart has 36.3% short interest and Affirm has short interest of 21.69%, per Benzinga Pro.
UPST, AFRM Price Action: At publication time, Upstart shares were up 40% after hours at $19.72, while Affirm shares were down 8.54% at $11.25, according to Benzinga Pro.
Photo: Mike Cohen from Flickr.
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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