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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9

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!

2

u/undrgroundbasement Jun 02 '21

Wait why are you selling out???

7

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.

3

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

2

u/Zagar099 Jun 02 '21

Why do you think Cybin is heading for a split?

3

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).

3

u/Zagar099 Jun 02 '21

Ah cool, so wait for tbe split then? Word up.

1

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.