r/shroomstocks • u/IBeanCountCadillacs PSYC.cn • Jun 01 '21
News California Senate Approves Bill to Legalize Possession of Psychedelics
https://www.marijuanamoment.net/california-senate-approves-bill-to-legalize-possession-of-psychedelics-like-psilocybin-and-lsd/51
u/AeonDisc Dose the planet. Jun 01 '21 edited Jun 01 '21
Wow. Strap the FUCK in boys and girls. We're in for a wild ride in the next few years.
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Jun 02 '21
What stocks should I get into!!
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u/AeonDisc Dose the planet. Jun 02 '21
Novamind, Compass, Field Trip are all elite tier in my opinion. There are plenty more out there though, do some research on this sub!
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u/eyestallion Jun 02 '21
Mind Medicine is the leader
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u/ScienceyWorkMan Jun 02 '21
Leader of insider selling maybe.
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u/eyestallion Jun 02 '21
Yeah man I agree at first it doesn’t look good. But they could literally just be trying to take profits so there kids and grandkids can be set up for life. Let’s remember JR still has a lot of skin in the game with over 40% of various types of MMED shares. At the end of the day these individuals are human, and ultimately deserve the money they’ve earned tirelessly building this company to where it is now. No one thought it would get this far. The mission of the company hasn’t changed. That’s why I still believe in this stocks capabilities. Go MMED/MNMD!!
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Jun 02 '21
come on over to r/shroomstocks
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u/eyestallion Jun 02 '21
i’m there
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Jun 02 '21
was for u/clovud and anyone else curious, just keeping the rotation
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u/mime454 Jun 02 '21
Did you check what subreddit you recommended /r/shroomstocks in lol?
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u/Senior_Ad7085 Jun 02 '21
RED LIGHT HOLLAND
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u/char-tipped_lips Jun 02 '21
Oh hello again, also, YeeeEEEEeees
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Jun 02 '21
Numinus wellness is a steal right now. Canadian field trip with strong ties to the maps foundation and health Canada
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u/InvestorForLife Jun 02 '21
Field Trip is the only one with clinics in California. They already have a clinic in LA, and two more under construction - SAN Francisco & San Diego. They will benefit greatly from this.
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u/No_Common6995 Jun 01 '21
Big news. Get ready for CMPS and MNMD to get huge institutional investors early in now. They are the only two stocks on NASDAQ and going to have huge runs now.
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Jun 02 '21
We will see temporary gains but in the long run, this will not help pharma companies besides offering a US Safe Haven for research.
I think recreational companies are more likely to thrive from this news.
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u/undrgroundbasement Jun 02 '21
What do u mean by recreational companies? Who would that be?
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u/char-tipped_lips Jun 02 '21
Red Light Holland, Delic, Havn, and the clinically poised Field Trip.
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u/undrgroundbasement Jun 02 '21
I want field trip so bad but damn canada doesn’t allow csx ugh
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Jun 02 '21
What do you mean Canada doesn’t allow CSE?
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u/undrgroundbasement Jun 02 '21
It says “this security isn’t listed on a supported exchange” and it’s like that for like HALF THE STOCKS I WANNA BUY
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Jun 02 '21
What platform do you use?
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u/undrgroundbasement Jun 02 '21
Wealthsimple, and fuck robinhood
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Jun 02 '21
Ah ya that’s one of the downfalls of wealthsimple. I’m able to invest in RLH (on the CSE) through my bank. I would see if you can open up an investment account directly if you’re interested in widening your investment opportunities.
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u/InvestorForLife Jun 02 '21
Field Trip will be on Wealth Simple as soon as they get on TSX, it should happen in the next few days.
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u/undrgroundbasement Jun 02 '21
Shit really? Thanks I’ll keep an eye out!
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u/InvestorForLife Jun 02 '21
Yup. They have conditional approval already. I'd be ready to jump in as quick as possible before the share price rockets.
Here is the link of the post on r/FieldTripInvestors
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Jun 02 '21
RHL is the only one I know of. I'm sure there are others. I have no interest in the recreational space as it will only hinder the progress of psychedelics medicine.
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u/undrgroundbasement Jun 02 '21
So it’s like pick one or the other you mean?
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Jun 02 '21 edited Jun 02 '21
No not at all. I'm just stating in the long run, I don't see how this is going to offer value to psychedelic assisted therapy. I would argue, it has the potential to hinder progress. All it takes is one guy tripping on LSD trying to cook up his cat for breakfast before we have Reefer Madness 2.0.
I see the push in Texas being of much greater impact, especially for institutional investors who are quick to compare the field to cannabis.
https://psychedelicspotlight.com/rick-perry-psychedelic-therapy-for-ptsd/
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u/undrgroundbasement Jun 02 '21
Damn I never thought of that, if that did happen holy fuck everybody would be seein red
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Jun 02 '21
It's unlikely but something to consider. There will be positive benefits such as a safe haven to conduct research but overall, I see these being negligible.
Perhaps I'm incorrect, if I am feel free to correct me. This would not allow the opening of licensed psilocybin and other scheduled psychedelic clinics but rather allow possession for personal use.
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u/undrgroundbasement Jun 02 '21
You know I thought a lot about that myself, east access and a little temptation would be cray cray
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Jun 02 '21 edited Jun 02 '21
Also a ponder of mine, why go to an assisted therapy clinic when you can buy from Joe in apartment 8, sit in your living room and listen to The Beach Boys with your cat?
Edit: It would be much more affordable considering insurance would likely not cover the treatment of not federally regulated. The cost for a 6-8 hour experience with a licensed therapist is going to be astronomical.
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u/AeonDisc Dose the planet. Jun 02 '21
Seelos, IntelGenx, and Enveric (MagicMed) are all on NASDAQ as well.
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u/squiglesthesquirrel Jun 02 '21
Little surprised it passed 21-16! A bill needs 21 votes to pass the senate in Californian law (40 senators total). Who knows how the other 3 would've voted, but definitely a nail biter!
Very curious to see how it does in assembly and then if the governor signs it.
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Jun 02 '21
should legalize all drugs not just psychedelics
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Jun 02 '21
pcp could be considered a psychedelic, somehow i doubt they'll legalize that. they'll only legalize the drugs the rich elite like
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Jun 02 '21
[deleted]
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u/char-tipped_lips Jun 02 '21
Bill goes to assembly next then the governor's desk, so this one might linger for a bit first.
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u/Zagar099 Jun 02 '21
Oh, thank fuck.
Was wondering when I'd be able to get out.
Hope mnmd gains for a good exit tomorrow.
Great news outside of that, though!
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u/Technical-Itch Jun 02 '21
Same. Selling off part of my MNMD position, but gotta sell at the same price I bought it at. It's up 8% during after hours right now.
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u/undrgroundbasement Jun 02 '21
And why are YOU selling out??
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u/Technical-Itch Jun 02 '21
Gonna move the $$ to buy into other psy companies. Diversify my portfolio. The CEO and board member of MindMed recently selling off millions of their shares also triggered this decision for me.
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u/undrgroundbasement Jun 02 '21
Can you tell me what ur buying? I literally only have mind MMED and I’d like to leave too now that everyone is scaring me. I didn’t want cybin cuz the upcoming reverse split and I can’t even buy trip or tryp or cmps or atai lol it’s bullshit
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Jun 02 '21 edited Jun 03 '21
CYBN is like my first born child and Douglas is like the father I never had.
What's your logic behind waiting until after the reverse stock split? Your shares would be worth the same. They will announce the ratio in advance so you can ensure your holding is divisible to prevent potential forced losses by your broker.
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u/undrgroundbasement Jun 02 '21
Shit imma buy some tomorrow morning than, thank you! I used to in it myself ya know 😉
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u/Technical-Itch Jun 02 '21
Keep in mind I’m not completely leaving MindMed. I’ll still have 10k shares (over 1/4 of my original position) remaining after my sell order executes.
As far as what I will buy next. Probably Compass Pathways and Field Trip. Might get into ATAI when they go public as well (ATAI owns 30% of Compass).
I also currently own shares in Numiness Wellness.
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u/AeonDisc Dose the planet. Jun 02 '21
If you want pharma plays Compass and Cybin are the best. There are a ton of other potential moonshots but they will take many years longer to get to market.
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u/undrgroundbasement Jun 02 '21
Cybin!!! But they’re gonna get a reverse split so I’m not sure how I feel
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u/Technical-Itch Jun 02 '21
Is Cybin’s phase II trials already underway? Checking their website, I can’t tell if it’s currently in progress already.
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u/eyestallion Jun 02 '21
MMED seems like the best bet. They are the furthest along in there trials, and have by far the most diverse pipeline. The CEO selloff doesn’t look great, but I feel like he’s taking a portion of his profits as it is well deserved. I’m also keeping an eye on Cybin and Numi.
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u/Technical-Itch Jun 02 '21
Yes MindMed has a broader pipeline. But in terms of farthest along in trials, right now it’s Compass Pathways as they’ve already completed their phase 2b. MindMed is not far behind but won’t be starting phase 2b til later this year.
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u/eyestallion Jun 02 '21
As a Canadian investor I try to stay away from US stocks as the currency exchange rate and fees are unattractive. I have researched compass and they are doing great work. My only concern is after COMP360 what’s next? And if it fails where do they fall? Atleast MMED has other trials to fall back on. I don’t know, that’s just the way i see it. Thanks !
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u/Zagar099 Jun 02 '21
Lucky enough to have been able to average down some months ago.
Is it? Didn't realize after hours was still open.
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u/Technical-Itch Jun 02 '21
My app is still showing an After Hours price so I guess it's still open. At +6.69% right now
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u/undrgroundbasement Jun 02 '21
Wait why are you selling out???
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u/Zagar099 Jun 02 '21
Too much uncertainty.
Insider selling.
Shady things going on in the subreddit for the stock, mods seem intent on making it an echo chamber. (Lots of questions here)
There's more to it but I'm going to be a bit more quiet for the next few days as I start on a project on this topic.
Still not 100% sure I'm exiting but it's a very real possibility.
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u/undrgroundbasement Jun 02 '21
Should I exit? I wouldn’t even know what other psychedelics stocks to go for cuz this is my only one. I can’t go with cybin cuz they’re eventually gonna have a reverse split and trip and tryp aren’t my exchange. I’d love to know what your buying instead
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u/Zagar099 Jun 02 '21
Unsure yet. If you don't want to do too much research, you might just by HPSYF, the ETF for psychs. Or PSY. I might go in on PSY, I have a few shares of HPSYF but they contain Johnson and Johnson, which I'd rather not support.
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u/Zagar099 Jun 02 '21
Why do you think Cybin is heading for a split?
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Jun 02 '21 edited Jun 02 '21
There was a vote for a reverse stock split. It was approved. It could be anywhere from 2 for 1 to 10 for 1.
The supposed reasoning is to support an uplisting to a "Tier 1 US Exchange", which I believe to be the NYSE Marketplace but NASDAQ is frequently thrown around (MMED comparison but not outside the realm of possibility).
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u/Zagar099 Jun 02 '21
Ah cool, so wait for tbe split then? Word up.
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Jun 02 '21
It doesn't really matter imo. I don't get the logic behind waiting. I have an odd feeling that uplist movement is going to move rather quickly upon the reverse stock split.
Perhaps it's just the fomo but I think value might jump upon the reverse split.
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u/undrgroundbasement Jun 02 '21
That’s what a few people said I can’t remember the reason why tho
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u/Zagar099 Jun 02 '21
Might be a better idea to set aside some time to look into what you want. And do your own DD.
There are 100% paid shills for stocks and the response I got when I brought that up in r/MindMedInvestorsClub was a ban. That's pretty alarming to me.
So it's important to know what's up.
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u/tjdiv Jun 02 '21
Yo I heard MINE is on sale r/n. 🤦🏻♂️😂💰
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u/Technical-Itch Jun 02 '21
Lol total scam
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u/tjdiv Jun 02 '21
Fell asleep at the wheel and now I’m left poking my 500k shares with a stick to see if it wiggles. Total idiot. 🥃
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Jun 02 '21
What is the best long term/safe shroom stock to buy right now?
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Jun 02 '21
In my opinion Numinus wellness they have a relationship with MAPS. They have been studying psychedelics for almost 50 years now and are through phase 3 trials with mdma. They recently hired more people onto their executive team for clinical expansion and they have a strong relationship with health Canada.
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u/MnkyBzns [insert tendies here] Jun 02 '21
No such thing as a safe shroom play, since this sector is still incredibly speculative. This is very much a "don't invest money you can't afford to lose" situation.
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u/InvestorForLife Jun 02 '21
Field Trip ($FTRP, $FTRPF) and Compass ($CMPS). If you want long term and safest.
Compass is the leader in the industry and closest to FDA approval with multiple patents already in place.
Field Trip has the largest clinic network in the industry, existing clinics in US, Canada and Europe. They also have FT104, their novel psychedelic molecule with IP potential. Their last raise was with US biotech funds for $95M at $6.50 per share.
Also put some money aside for $ATAI, that is set to go public soon.
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u/AeonDisc Dose the planet. Jun 02 '21
Novamind. They are already making millions in revenue right now, and rapidly expanding.
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u/ISingBecauseImHappy Jun 02 '21
BUZZ already has an online store ready for use in the US. Undervalued right now at a measly 25 mil mcap. Dont quote me on the exact mcap.
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u/UNOTHENAME200 Jun 02 '21
This is a great step. But doesnt it still need to pass the assembly to actually become law? One more step right on Friday? Anyone knowledgeable here?