Supreme Adding New Lines to its Own Recreational Products! I saw this on @Reddit /SPRWF this morning.
although personally I think the group @ /SupremeCannabis on @Reddit are more knowledgeable.
regardless, if this is a rumour or true (because I couldn't find a News Release, but I've missed them before)...so here's my take on FIRE.CA: (TSE) / SPRWF (Nasdaq)
It seems to me the stock is stuck between $.27-$.30 until news or a breakout, almost saying that it wants to go up, but it needs the buyers to step in.
I think this CAN affect the stock price today and push it over $.30. If we can break $.30-$.31, I think we’ll start moving toward the upside closer to $.50-$.60 prior to earnings like everyone said Beena is doing a fantastic job increasing sales with higher margins and they have multiple revenue streams;
• Manufacturing & Growing
• Multi Year Supply Contracts with giants Shoppers Drug Mart, Tilroy, etc.
• and now Beena sees the recreational space grew year over year by 70%, so I imagine this news will greatly impact the recreational numbers with higher margins and also will need more of a brand for the retail products they have to be under FIRE (great name and logo, an emoji logo would be amazing!)
Summary; I think we have an up day today and break $.30-$.31, we’ll see some real breakouts on continued news! (ie up $.20 another day, up $.60 another day, etc. and perhaps hit $2-$3 prior to earnings with multiple analysts recently upgrading Supreme Cannabis to a Strong Buy based on Growth & Execution by their New CEO!
Strong Buyer & Holder Because I Believe in 3 Core Things Supreme Cannabis Has;
• Great Product (better than competitors in mine and many others on @Reddit and across the web)!
• Great New Management! Beena Goldenberg has been an incredible asset as CEO and while yes, share dilution was an issue prior to Beena as they ran the company a bit lopsided without a specifi revenue path they wanted to focus on, Beena made up for that, issued a bit more shares to help with cash on hand which BMO invested almost $40 Million in at $.31 per share with warrants @ $.40, which I believe tells us BMO likes what Beena is doing with current and ramping up product lines and distribution and relationships, local, international, medicinal and recreational - with a great supply chain and WHEN the US Market officially becomes LEGAL, Supreme Cannabis will be in an amazing position for an acquisition, merger, or acquire, a great problem for them (and us) to have! Since I think the valuation of the company is only down because of the share dilution, but the market cap is $200M, for a company that SHOULD be worth and able to get $3-$4B in valuation! Which would get either us shareholders on a sale or via stock price, Supreme Cannabis trading at $7-$8 per share!
@.$30-$1.00 Supreme Cannabis is a Strong Buy in my opinion where their headed, their focus, and the market will catch back up to them once they see they missed a few amazing quarters and start upgrading the valuation numbers again to $7-$8.
Be Patient. Buy & Hold, & You'll Make Lots of Money with Beena Goldenberg & Supreme Cannabis, the Most Undervalued Company!