Fire in the hole: Supreme Cannabis (FIRE.T) drops rough financials as expected, transition afoot

Ontario-based Supreme Cannabis (FIRE.T) released its Q2 2020 financials today and there were few surprises contained in its pages, bar perhaps the size of the quarterly loss. At a $17.3 million net loss after taxes (and a $10.4 million loss in adjusted EBITDA terms), FIRE shares fell in value below the $0.40 mark it's been hovering around for some time, a 5% drop in real terms. Previous quarters had seen smaller losses, even come close to break even. But even the rosiest-eyed fanboy would have expected these numbers to be rough, considering the CEO change and staff layoffs announced earlier in the year.  We predicted as much a week ago.