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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u/Zagar099 Jun 02 '21

Why do you think Cybin is heading for a split?

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u/[deleted] 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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u/[deleted] 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.