Industry margin is high, but only at retail.
The major percentage of ECIGs sales are wholesale to large players, that demand fees, big marketing spend and of course maximum revenues themselves.
I would not be surprised if ECIG gains just 25% gross over costs when selling to the multiples.
ALL the profit is enjoyed online, via the multiples or in-store at specialist stores which are untracked.
Bunch of false assumptions getting longs and investors roped in, that's the stinky pinky mentality of this legit company.
I'm in because I see pps value and do not rate long-term prospects by any chance. FIN is the best of the bunch and hope it remains but as far as the other brands, I wouldn't miss them