IOND
Ionic Digital Inc.
Research: Finviz ↗·Perplexity ↗
No convergence signal this quarter — shown because tracked funds have filed 13D/G on this stock.
News Summary
PositiveIonic Digital completed a successful Nasdaq direct listing on July 28, 2026, at $53 reference price with 25%+ opening day gains, valuing the company at ~$2.75–2.8 billion. The company issued 2026 guidance of $190–195 million revenue and $36–37 million adjusted EBITDA (~19% margin), while strategically pivoting from bitcoin mining to long-term AI infrastructure leasing, including a 126-month, $1.95 billion Nscale contract covering 234 MW of capacity.
Red flags
- •Net loss of $34–35 million expected in 2026 despite positive adjusted EBITDA, indicating significant non-cash charges or interest expense
- •Preliminary guidance issued only days before listing with no formal analyst consensus or independent third-party validation yet available
- •Valuation roughly 5–6x 2026 adjusted EBITDA at debut—elevated for a capital-intensive infrastructure business, dependent on Nscale contract execution
Fund 13D/13G Filings (1)
Tracked funds' beneficial-ownership filings on this stock — disclosed within days of a position change, fresher than the quarterly 13F. Since Filing compares the stock to SPY from the filing date (shown for filings within the last 90 days).
| Fund | Form | ∆ Shares | % of Class | Since Filing | Filed | Src |
|---|---|---|---|---|---|---|
| Sachem Head Capital | SC 13G | NEW | 6.9% | +6.1% vs SPY +9.3% abs | 2026-07-24 | ↗ |