April 30, 2024 12:40 AM | 3 min read |
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.
Tesla and SpaceX CEO Elon Musk has once again accused Mark Zuckerberg-led Meta Platforms, Inc. (NASDAQ:META) for taking credit for traffic that actually originates from his social media platform, X, formerly Twitter.
What Happened: Musk’s comments came in response to a post by DogeDesigner, a graphic designer at Dogecoin (CRYPTO: DOGE), who highlighted a lawsuit against Meta in Japan. The lawsuit alleges financial losses due to Meta’s failure to verify the authenticity of ads.
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DogeDesigner suggested that X’s platform ensures that even paid ads are fact-checked by Community Notes, although this feature is not 100% reliable considering its history with erroneously flagging a graphic video shared by Donald Trump Jr.
Musk himself spoke about community notes failing in one instance earlier this year, when he expressed dissatisfaction with a newly purchased Windows PC laptop, which didn’t let me access it until after creating an account with Microsoft. On his post, the note read, “It is still possible to set up the latest version of Windows without a Microsoft account.”
Musk responded to DogeDesigner saying, “Unfortunately, Meta/Facebook/Instagram is highly skilled at taking advertising credit for traffic that actually comes from our platform (sigh).”
This is not the first time Musk has criticized Meta for advertisement credit. In March earlier this year, the tech billionaire alleged that Meta “falsely” took credit for sales that originated from X, after advertisers filed a $7 billion lawsuit against Meta’s Facebook and Instagram.
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Meta did not immediately respond to Benzinga’s request for comments.
Why It Matters: Meta has been facing a series of challenges in its advertising system. Seizing the opportunity, Musk invited advertisers to return to X earlier this month, amid reports of significant issues in Meta’s advertising system, which led to higher ad campaign costs, poorer results, and reduced sales for marketers.
Meta has also been struggling with ad glitches, which led to Musk likening sharing a Facebook link to using an AOL email address. This was another instance of Musk taking a jab at Meta’s advertising system.
Previously, the tech mogul has also expressed opinions regarding the credibility of Meta’s social media platforms and its influence on users’ mental well-being.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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.
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