As we all know there is substantial over-supply in Washington and Oregon at the moment that will eventually ease off in the next few months..
Ionic Earnings were certainly affected by those market conditions same for every reporting MSO.
But lets take a closer look at the Q2-Q3 difference for Ionic brands!
-Wholesale to Retail went from 111k units sold to 330k units sold! (+200%)
-B2B wholesale -minimal 2% growth-
-Wholesale to Retail -minimal 5% decrease-
-Oregon Wholesale to retail from 23k units to 32k units! (38% increase)
Launch of ZOOTS nationwide.
Its important to note that despite a compression in price and an over-supply throughout Washington and Oregon, Ionic has manage to increase their margin profit and increase their number of units sold by a very large quantity VS Q2.
Also, as many investors are aware, those elements are already factored in the share price, not to mention tax-loss and the recent disgruntle LOBE holder.
Now think about when Washington/Oregon product equilibrium is found, prices will climb back to normal, this should greatly affect Ionic in a positive way considering they increased in footprint throughout the states.
Lots of organic growth within their home states, new markets will only create substantial upside for an established small player such as Ionic!
it is my belief that Ionic will experience a 10 fold increase in share price when investors realize their assets, revenues, potential and so on.
IONIC has been kept in the dark by the investors community it is time to stand up and get recognized.
Fortune Will Favor The Bold!