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.
Ascend Wellness Holdings, Inc. (OTC:AAWH), a vertically integrated, multi-state cannabis operator, reported record-breaking quarterly revenue of $114.2 million for Q1 2023, a 34.2% YoY increase, and a 1.9% QoQ increase. Gross revenue hit $141.2 million, up 39.5% YoY.
Positive cash flow was achieved for the first time since inception, and operations were expanded, including notable acquisitions.
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!
Abner Kurtin, executive chairman, expressed pride in the team for delivering record revenue and positive cash flow, despite the competitive industry dynamics. Frank Perullo, Interim co-CEO and president, agrees that Ascend is generating traction in select markets.
AWH Achieves Positive Cash Flow, Expands Operations
Ascend reported positive cash from operations for the first time since its inception, with a net loss of $18.5 million in the quarter, a significant improvement compared to a net loss of $27.8 million in Q1 2022 and $15.1 million in Q4 2022.
- During the quarter, the company expanded its presence, opening outlet dispensaries in New Bedford, Massachusetts; Grand Rapids, Michigan; and Tinley Park, Illinois.
- Ascend also closed the acquisition of four dispensaries in Maryland from Devi Holdings, Inc., expanding to seven states with 31 operating dispensaries.
- The company had the first harvest at its Smithfield, Pennsylvania cultivation facility and made the first sale of products produced from that facility to its two retail dispensaries in Pennsylvania.
- Ascend remains committed to generating cash from operations for the full year 2023 and is focused on cash generation.
Price Action
Ascend shares were trading 3.23% lower at $1.02 per share at the time of this publication late Wednesday morning.
Photo Credit: Nattanan Kanchanaprat on Pixabay.
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.