Canadian CANNAINVESTOR Magazine July / August 2017 - Page 187

Supreme Pharmaceuticals (TSXV:FIRE)

Supreme having just made their move to the TSX Venture and changing their ticker from SL.c to FIRE.v has a rather new chart on stockcharts.com but I do welcome the ability to place stop orders which the CSE does not allow for.

After being halted on Friday and over the weekend they announced a bit of clarity surrounding their sell license but not the “we got a sell license” that many investors were/are continuously hoping for. When I see everyone on social media start to celebrate and say things like “sticking my sell order at $2 and $3 for when it spikes to the moon on licensing” the second the company announced a halt (only for that license to not actually come) the contrarian in me starts to wonder why/how the “sell license” will make the stock immediately run up there.

With a market cap that is already priced over sizable LPs who have had their sell license for multiple years, one could certainly make the argument that their value has “sell license” priced in as an inevitable guarantee. Moreover, it would appear as though many investors are positioning themselves to “be in early” and “sell the inevitable pop” on license’ news as opposed to seemingly none who are “waiting it out to enter”, all the while the stock continues to slide.

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