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.
- TuSimple Holdings (NASDAQ:TSP) announced a restructuring plan for its U.S. operations and is no longer seeking strategic alternatives for its Asia Pacific subsidiaries.
- TSP intends to continue maturing its technology while preserving its balance sheet.
- To better align employment levels with the company's objectives, TuSimple seeks to reorganize its U.S. operations by reducing the global workforce by about 30%.
- The reduction in workforce will only impact TuSimple locations within the U.S.
- The restructuring is expected to lead to ~$12 million to $13 million in one-time charges and result in an expected annual cash compensation expense savings of ~$64 million to $68 million.
- "As we relaunch TuSimple, we have taken a variety of factors into consideration including further deterioration of global economic growth, significantly reduced capital availability in the self-driving industry and redundant hardware availability," commented Cheng Lu, president and CEO of TuSimple.
- "Given these factors, we believe this restructuring, while difficult, aligns our capital spend with the pace of overall industry readiness and improves our long-term competitive position," added Lu.
- TSP is no longer considering a transaction because it thinks that keeping ownership and control of its Asia Pacific businesses is in the best interests of shareholders.
- Price Action: TSP shares are trading higher by 17.50% at $1.50 on the last check 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.
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