RE:RE:RE:RE:RE:RE:Alan Brochstein confirms it was not an ETF dump 100% correct.
What amazes me is how docile, naive, and oblivious the average FIRE shareholder is. Management has been failing openly for the past 2 years - certainly the last year, and these shareholders cheer them on instead of calling out their incompetence.
Insanity.
brentkosta wrote: Parry is a promoter paid to write positive things about Supreme. He has always done so because Supreme has paid for his services for 5 years now. FIre is a shyt company by many metrics. The early day financing (which I took part in) has not been followed up with strong growth in order to combat the share overhang it created. And so, the chickens have come home to roost. I was wrong in my faith for insiders and management. They are incapable in running a public company.
Alan promoted every single Canadian company in the legal industry from 2014 on. So to say he has made money for his followers is accurate, but the truth is, you couldnt pick a bad company in the early days. They all sky rocketed and offered ignorant investors unrealistic gains. He had a macro vision for the industry in the early days. But who didnt? This industry has always been easy moneyif you had any idea how to read a chart. Only now are the same shyt comapnies that he promoted being called out for incompetence.
Its important to note that Supreme has built (portions of) a world class grow op. But they have made multiple poor decisions along the way with regards to bulding share holder return.
In my opinion this company needs to be acquired in order to survive and anagement should not be allowed to make any decisions for future business expansion. They should be kept to in-house standard operating procedures only. Management simply wastes money with aquisitions such as Blissco, Truverra and with other decsions such as the GB portfolio.
This company has literally done nothing in 5 years besides partially building out a strong facility and being able to offer very small amounts of premium bud, that clearly, not too many people give a shyt about.
Disclosure: I am in fact buying this stock at these prices as a short term trader only. This motivation stems from a fundamental perspective of the 3 year chart as well as my belief that the board will have to take action in the short term in order to salvage share holder value and so I believe an aqusition will take place. I have zero confidence in the overall vision and direction of this company.