Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Bullboard - Stock Discussion Forum Supreme Cannabis Company Inc. (The) T.FIRE

The Supreme Cannabis Co Inc is a Canada-based company engaged in the production and sale of medical and recreational cannabis. Its portfolio includes products that address recreational, medical, and wellness consumers. Its brands include BlissCo, Truverra, 7ACRES, Sugarleaf, and Hiway.

TSX:FIRE - Post Discussion

View:
Post by Daytrader1959 on Nov 30, 2020 2:51pm

Big trade volume

Weird this stock trades big volumes each day but little change in stock price, usually a half of cent, so why such high trading volume?
Comment by brentkostaa on Nov 30, 2020 3:07pm
Borrow, short sell, cover, return shares, repeat over and over and over and over. I bet MMCAP is naked shorting the heck out of this making money on the short side and with the interest. Why else would they have taken on the risk of holding such a large position of a going concern? Its the only thing that makes sense to me.  Supreme only has to survive 2 years for MMCAP to become whole on ...more  
Comment by theTransporter on Nov 30, 2020 3:43pm
MMCap, since they are now considered an insider, must report all transactions.  I haven't seen anything from them on Canadian Insider so not too sure your theory of them trading this is accurate.  But thsoe guys probably know ways to hide their transactions.
Comment by Method on Nov 30, 2020 3:54pm
  They may not have to file on SEDI. Probably just on SEDAR within 10 business days of every month. 
Comment by brentkostaa on Dec 01, 2020 8:16am
Ive never seen a naked short report. 
Comment by Method on Nov 30, 2020 3:52pm
so they are long 90m shares and are naked shorting? Are you saying they are short over 90m shares?
Comment by brentkostaa on Dec 01, 2020 8:40am
why would they need to be net short? Why cant they maintain their long position, soak in interest payments twice a year, and then short sell daily?
Comment by Method on Dec 01, 2020 8:54am
It's not shorting when long. It's just selling.  More likely they lend their shares out and collect extra interest from those who might actually be shorting like yourself or another fund against the debs.  There are lots of legal ways to make money without assuming they are breaking the law after the OSC is publicly paying more attention. 
Comment by brentkostaa on Dec 01, 2020 9:35am
Naked shorting is a fairly common practice. Call it illegal if you want. Its not enforced. So its done. I can easily do it through Cannacord. If a poor little retail investor like me can do it, a hedge fund like MCMAP can do it, and im sure they do, all along their rat line.  Tell me Method. Why would MMCAP be so willing to restructure this debt? Just out of the goodness of their own heart ...more  
Comment by Method on Dec 01, 2020 9:52am
Anyone can naked short but it doesn't make sense when you are long is what I'm saying. You still get charged for the borrow.  MMCap would restructure the debt because they think that's the way they could make the most money plus it's bad business for them to make an investee company file bankruptcy. It doesn't help with future sweetheart deals.  It's not ...more  
Comment by brentkostaa on Dec 01, 2020 10:32am
oh i dont think its at all complicated. MMCAP has been financing the cananbis sector or years, playing both sides. There is ample evidence of that. 
Comment by Method on Dec 01, 2020 10:38am
Exactly. I'm glad you could answer your own question as to why they agreed to refinance the debentures. 
Comment by brentkostaa on Dec 01, 2020 10:48am
Review the exchange. Tell me what point you have made? 
Comment by johnale on Dec 01, 2020 12:07pm
Brent? Why would they borrow shares and short (with borrow cost) when they could essentially sell their own shares (no cost) and buy them back at a lower price if thats the trade they wanted to make?    brent... they have 90million shares of fire.  28.3million worth of debentures.  The only way MM is making money on fire right now - is if it goes up.  by my ...more  
Comment by Method on Dec 01, 2020 12:38pm
You asked why MM agreed to refinance the debentures. I said because they finance the sector and don't want to bankrupt a company. You said, MM has been financing the sector for years.   
Comment by brentkostaa on Dec 01, 2020 1:43pm
Method and John, https://financialpost.com/cannabis/how-a-handful-of-hedge-funds-cornered-cannabis-financing-and-made-a-killing-in-the-process So you are saying that this has not (and is not) happening? 
Comment by Method on Dec 01, 2020 4:29pm
I think it happened and I think it happened to Supreme but since then regulatory scrutiny has gone up significantly and the stock price is in the pennies. The economics for the strategy fall apart when the eequity is worth so little while the regulatory risk increases exponentially. There is a lot more money to be made from the interest on the debs alone.     
Comment by Lou793 on Dec 01, 2020 9:58am
Good volume already - stock running - no news - HMMJ down - maybe investors looking at smaller cap cannabis stocks that look to be righting their ship.
The Market Update
{{currentVideo.title}} {{currentVideo.relativeTime}}
< Previous bulletin
Next bulletin >

At the Bell logo
A daily snapshot of everything
from market open to close.

{{currentVideo.companyName}}
{{currentVideo.intervieweeName}}{{currentVideo.intervieweeTitle}}
< Previous
Next >
Dealroom for high-potential pre-IPO opportunities