Post by
rexrex on Jan 18, 2021 8:48am
$0.40 to $0.50 level
Just before March 2020 (pre-pandemic)., FIRE was trading above $0.40cents and in between $0.40 to $0.50 cents range. At that share price level the company had a lot of issues, debt covenant, was not profitable, cash reserve. Post pandemic the share price cratered just like all the other Cannabis stock. Since the crash the company has hired an Excellent CEO (Beena Goldenberg) negotiated it's debt covenant, relinquished a sizable portion of it's debt, expanded to Israel and Australia, made deals with Shoppers Drug Mart, increased their cash reserve to $20 million and in the most recent quarter turned profitable. A lot of this has happened under the tenure on Beena Goldenberg who was hired only in April 2020. I think if you really read the news releases from April 2020 you will notice that the new CEO is turning the company around with great speed and efficiency. This is not the same company it was in 2018 and 2019. FIRE is emerging as a profitable Cannabis company with a growing international footprint. Dont be surprised if deals start happening in the US side soon. I think the intention of the new CEO is to turn this company into a multi billion dollar profitable enterprise that can one day be merged into a bigger player in the international Cannabis sector. Great times lie ahead, the share price is just getting traction, I see no reason why it should not be trading at it's pre pandemic level now, this is a great stock at bargain basement prices...imo.
Comment by
vulcan123456789 on Jan 18, 2021 8:59am
fully agree well written the ship has turned and gaining speed..cheers