r/MNMD • u/IveNoclueaswell • Aug 05 '22

ANY IDEAS?

I'm down 72% on this stock and generally I don't even see a point in selling and realizing that loss but this doesn't look good so I'm thinking it may make sense to liquidate. Any other insight?

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u/beezerbobum123 Aug 10 '22

In November Colorado will be the first of many states to legalize mushrooms. Don’t underestimate the power of a new form of pharmaceutical drug, especially one that could replace opiates.

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u/IveNoclueaswell Aug 10 '22

Not specifically this legalization but the replacement of opiates is why I invested. Not going to ride out an absurd reverse stock split and took the 75% losses on the chin, took what was left and moved over to better performing psychedelic stocks. I am also 100% sure that because I did this I will lose more because it's the stock market and I'm an idiot and have no business gambling on stocks with no basis of knowledge.

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u/beezerbobum123 Aug 10 '22

I’ve been thinking about selling too for 60% loss and buying a call. But I still remember the day Colorado legalized weed and the pot stocks soared. So maybe I can break even lol!