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.
Vertically integrated cannabis company Vibe Growth Corporation (CSE:VIBE) (OTCQX:VIBEF) announced on Tuesday its financial results for the three months ended March 31, 2023.
Over the first quarter of 2023, the Sacramento, California-based company implemented efficiency and cost-savings initiatives that resulted in "encouraging" gross margin improvements, a trend Vibe CEO Mark Waldron expects to continue seeing in the future.
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"In the second half of 2023 - through new retail sales initiatives, improved cost controls, and new business efficiencies - Vibe should be able to increase gross margins further as it sets a course toward profitability," Waldron said
Other Q1 Financial Highlights
- Gross margin was $1.48 million, compared to $702,301 in the prior quarter and $1.95 million in the same period of 2022.
- Total revenue, a non-GAAP measure, totaled roughly $4 million, representing a year-over-year and sequential decrease of approximately 30% and 14%, respectively.
- Net loss, a non-GAAP measure, amounted to $1.15 million, representing an increase from $990,468 net loss in the corresponding quarter of last year and a decrease from $6.68 million in the prior quarter.
- Adjusted EBITDA, a non-GAAP measure, came in negative at $368,255 compared to an adjusted EBITDA loss of $58,360 in the first quarter of 2022 and a $2.7 million loss in the prior quarter.
- Cash position as of December 31, 2022, was $3.87 million.
VIBEF Price Action
Vibe Growth's shares traded 61.53% higher at $0.0681 per share at the time of writing on Wednesday.
Related News
- Vibe Growth Q2 Revenue Drops 26% YoY, What About Adjusted EBITDA?
- Vibe Growth Q3 Revenue Declines 3.6% Sequentially To $5.5M
Photo: Courtesy of Kindel Media by Pexels
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.