Investing

Psychedelics and Shroom Stocks

  • Last Updated:
  • Oct 23rd, 2020 5:44 pm
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Deal Fanatic
Jul 7, 2004
5828 posts
1496 upvotes
NUMI now up 20%. Hope I didn't miss out on getting more in the 30s.
Deal Fanatic
Jul 7, 2004
5828 posts
1496 upvotes
NUMI back down to 35 cents. Wish I had a buy in at 33 cents.
Deal Addict
Feb 13, 2015
1016 posts
192 upvotes
Oakville, ON
New and young to investing here... playing around with $500 on wealthsimple.

For example, if I buy $500 worth of Numi .33 cents and then sell at .40 cents as quick flip. I essentially made about $100.
Do I have to pay taxes on that? How does it work?

I was told there is a capital gains tax or something where its better to hold onto the stocks for a year so I dont get taxed as much.. can someone clarify this to me?
Deal Fanatic
Jul 7, 2004
5828 posts
1496 upvotes
Put a buy in for 10,000 shares at .33 cents. See if it hits today or tomorrow.

th12mq wrote: New and young to investing here... playing around with $500 on wealthsimple.

For example, if I buy $500 worth of Numi .33 cents and then sell at .40 cents as quick flip. I essentially made about $100.
Do I have to pay taxes on that? How does it work?

I was told there is a capital gains tax or something where its better to hold onto the stocks for a year so I dont get taxed as much.. can someone clarify this to me?
Believe there is capital gains taxes if outside your tfsa. My accountant does it all, I don't even pay attention. I paid captial gains tax on bitcoin I cashed out.
Deal Fanatic
Jul 7, 2004
5828 posts
1496 upvotes
izzyzz wrote:
Damn. Got my buy for 33 cents atleast lol. I will buy 10,000 more at 27ish cents then I am done.
Deal Fanatic
Jul 7, 2004
5828 posts
1496 upvotes
This is not very fun!
Member
User avatar
Oct 12, 2009
419 posts
128 upvotes
A few of my friends are on small dose shrooms. These guys are intellectuals too so I was shocked as they frown upon drugs normally. They use it for depression and revitalising the body in cycles. Interesting to see if this ever booms
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Sr. Member
Aug 17, 2008
959 posts
766 upvotes
Toronto
CupOfCats wrote: A few of my friends are on small dose shrooms. These guys are intellectuals too so I was shocked as they frown upon drugs normally. They use it for depression and revitalising the body in cycles. Interesting to see if this ever booms
Yup! Absolutely going to 'boom'

Natural plant medicines.

Next up: DMT/ayahuasca
The Golden Rule: those who have the gold, make the rules
Deal Fanatic
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Sep 8, 2007
8643 posts
9412 upvotes
Way Out of GTA
cartfan123 wrote: I think Weed 2.0 was supposed to be edibles that was supposed to reignite the weed market last fall but didn’t. So this might have to be Weed 3.0 “Because I got blown up real good on weed, lemme see if I can time this one right!”

Bottom line it is another sector where the black market is just so established but it’s really down to can you just get in early, pump it up and run for your life and get out.
Revisiting this thread 6 months later. Pretty much went to plan. Lol.
"It is in times of great fear or greed that the most opportunity exists."
Deal Fanatic
User avatar
Jun 19, 2001
8422 posts
2097 upvotes
zoro69 wrote: Sure, its as valuable as their reports on pot stocks pre March 19. As in, no value, at all

"Another round scam stocks?"

yes
You can tell them, over and over, as they lose over and over, but most on RFD will continue to be retail buying from the pros...and holding all the way down
[OP]
Deal Fanatic
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May 2, 2006
7292 posts
1871 upvotes
GTA
Looks like we've got a Shroom Boom 2.0 on our hands. I believe there's a tremendous opportunity for some gains here in the coming weeks as investors are pulling their money out of the general markets and commodities and putting them into more speculative sectors. Exact same thing happened in March with COVID-19 pandemic wreaking havoc on major economies. This time, the turbulence is caused by the ongoing political/economic turmoil in the US. It will likely continue through November until the Presidential elections are over.

I've identified a number of opportunities in the sector a few weeks ago for my Discord group and we started accumulating TRIP (Red Light Holland Inc.) stock from 7 cents for the following reasons:

- TRIP is the only Canadian-listed company with the actual psychedelic product sales/revenues (launched last Friday in Netherlands)

- Strong cash position, raised $5M @ .165 in last financing at significant premium to stock price

- An entire float has been turned over since IPO in May; most cheap IPO paper should have been absorbed by now

- Weekly Chart shows stock is still in oversold territory (RSI @ 24) with lots of runway remaining

- Strong promotional team; Russell Peters has already pitched the company on the Joe Rogan Experience and we could see more of this soon

- A (so far unnamed) Canadian broadcasting corp. is documenting the company's progress in Netherlands at their own initiative (no cost to the company)

Other Canadian-listed companies worth a look in the space:

MMED -- applied for NASDAQ listing last week

NUMI -- the only company with a Health Canada license for psychedelic mushrooms cultivation/research

MYCO

SHRM -- halted on the Canadian side for failure to file paperwork with BCSC but raised $15M in cash and is making progress with clinical treatments
Last edited by izzyzz on Sep 26th, 2020 8:14 pm, edited 2 times in total.
[OP]
Deal Fanatic
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May 2, 2006
7292 posts
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GTA
I noticed something interesting about one of the Dutch stores that is selling TRIP products online...

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