RE:RE:RE:RE:RE:the thing about a slow train wreck Plenty in wwhat you say here MA...FIRE has never derailed, rather restructuring and mainly from B2B, full med, to majority rec with selective med sales. Major changes in production methods/ practices are not easily implemented and can be the end of a company, especially in an industry like this where even the top performers and the sector as a whole is going through the inevitable growing pains of a new industry and marketplace, as you point out.
The shift to rec production, along with CPG is major progress in this sector...the timing with covid and political insanity has had a seriously negative impact on the company and the sector.
With the negatives you point out are sector issues but while not inhouse created issues are still issues that FIRE needs to be dealt with while the inhouse restructuring proceeds, like it or not. With all that on the plate at the same time FIRE has realized profit, albeit ebitda lite, on ~20% of full production at best....on maybe the finest quality menu in the sector, of which is adding more and different products on a monthly basis....this is second to none.
Competing with the biggest and best in the industry, that have honed their rec producing and marketing skills and practices is huge fo any company in any sector without covid and a seriously comproimised economy is a challenge for all companies, FIRE is better positioned today than most, if not all, to survive and grow market share going forward. Cash in the till, sweet balance sheet and just starting out in rec, the question is...is there a better play today and will there be anybody with a balance sheet as sweet as FIRE's a year out? Everyone needs to do their DD and most will be buyers. JMHO...Opt
MarkAble wrote: Slow train wreck? This thing derailed long ago from an unused siding before it ever got going. Mind you the whole pot business ain't doing much better. The main issue - TOO MUCH WEED!! 505 Health Canada approved growers filling up massive warehouses, greenhouses and now huge outdoor acreages of the stuff hoping to sell it at prices based on the black market prices fifteen years ago.(oh yeah plus the 41,456 personal med licenses which allow individuals to grow up to 190 plants plus the fact anyone over 18 in can grow it in their home or backyard legally) There's more unsold pot out there than there is alfafa. Not much use getting out of this stock now cause there's not much to get out of, but don't kid yourself thinking that one day it will come back.