20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Redfin Corporation (NASDAQ:RDFN) shares are trading higher Friday. The company reported its third-quarter financial results after the market close on Thursday.
What To Know:
Redfin Corporation reported third-quarter GAAP losses of 17 cents per share, beating the analyst consensus estimate of losses of 20 cents per share.
The company also reported quarterly sales of $268.96 million, missing the consensus estimate of $270.99 million.
Redfin CEO Glenn Kelman said, "In a worsening housing market, Redfin earned an adjusted EBITDA profit, a $59 million improvement over the third quarter of 2022, all while growing traffic and gaining share."
"In October, we raised capital, began generating revenues from a new digital business, and launched all-variable agent pay in California. This downturn has only made us stronger."
Shares of RDFN are up on heavy trading volume Friday. According to data from Benzinga Pro, more than 5 million shares have already been traded in the session, surpassing the stock's 100-day average volume of 3.687 million shares.
Short-sellers have taken an interest in RDFN shares with 24.28% of available shares being sold short, according to data from Benzinga Pro.
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RDFN Price Action: According to Benzinga Pro, Redfin shares are up nearly 25% at $6.33 at the time of publication.
Image: Paul Brennen from Pixabay
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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