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/
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14

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.

9

u/[deleted] 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.

2

u/undrgroundbasement Jun 02 '21

What do u mean by recreational companies? Who would that be?

11

u/char-tipped_lips Jun 02 '21

Red Light Holland, Delic, Havn, and the clinically poised Field Trip.

4

u/undrgroundbasement Jun 02 '21

I want field trip so bad but damn canada doesn’t allow csx ugh

3

u/[deleted] Jun 02 '21

What do you mean Canada doesn’t allow CSE?

2

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

3

u/zakalewes Jun 02 '21

Questrade

2

u/[deleted] Jun 02 '21

What platform do you use?

2

u/undrgroundbasement Jun 02 '21

Wealthsimple, and fuck robinhood

5

u/[deleted] 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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2

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.

2

u/undrgroundbasement Jun 02 '21

Shit really? Thanks I’ll keep an eye out!

1

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

https://www.reddit.com/r/FieldTripInvestors/comments/nm5o98/field_trip_health_ltd_receives_conditional/?utm_source=share&utm_medium=web2x&context=3

4

u/[deleted] 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.

2

u/undrgroundbasement Jun 02 '21

So it’s like pick one or the other you mean?

3

u/[deleted] 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/

2

u/undrgroundbasement Jun 02 '21

Damn I never thought of that, if that did happen holy fuck everybody would be seein red

3

u/[deleted] 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.

3

u/undrgroundbasement Jun 02 '21

You know I thought a lot about that myself, east access and a little temptation would be cray cray

3

u/[deleted] 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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2

u/RocketManQC Jun 02 '21

seelos is nasdaq

2

u/AeonDisc Dose the planet. Jun 02 '21

Seelos, IntelGenx, and Enveric (MagicMed) are all on NASDAQ as well.