Are Psychedelic Stocks On Your Watch List Right Now
Guess what, psychedelic stocks are a thing and penny stocks are benefiting right now. While the early rumors that magic mushroom stocks would become the next “cannabis industry”, it’s never easy believing the hype. However, right now, we’re starting to see some big money being spent on many of these companies.
Shark Tank’s Kevin O’Leary, former Canopy Growth (CGC Stock Report) CEO Bruce Linton, and even PayPal billionaire Peter Thiel are spending big bucks to gain exposure to mushroom stocks. Most recently, the excitement has been on new “big board IPOs”. Thiel’s Compass Pathways (CMPS Stock Report) went public via direct listing earlier this year. Since September 18th, the psychedelic stock is up more than 100% and just hit a fresh, new high of $54.23 on Friday.
The breakthroughs being made right now for things like mental health and wellbeing have psychedelics in the spotlight. Oregon became the first state to legalize magic mushrooms. Other states and territories are also following suit. In the District of Columbia, the use of magic mushrooms and other psychedelics was recently decriminalized. Furthermore, other states are taking up initiatives to introduce psychedelic use in either legalization or decriminalized rulings.
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So where does this leave you? The industry is very young, however, we’re seeing much quicker progress as it pertains to major listings. It took a few years before marijuana stocks gained a bit of recognition on the NYSE and NASDAQ. Even with these early stages, progress is being made nationally and internationally.
Psychedelic Penny Stocks To Watch: Havn Life Sciences
When you talk about mushroom stocks and big names, Havn Life Sciences (HAVLF Stock Report) should come to mind. While former CEO Linton helped pave the way for Canopy Growth early on, it was one of a few select cannabis companies laying the groundwork for the industry we know today. Obviously, Linton has shifted focus to set the stage in this new frontier but so have other former marijuana heavyweights. In the case of Havn, Executive Chairman Vic Neufeld was the CEO of Aphria for 5 years from 2014 to 2019. This was the heyday of the company and saw the company’s valuation explode.
Prior to that, he served as CEO at Jamieson Laboratories, Canada’s largest manufacturer and distributor of natural vitamins, food supplements, herbs, and botanical medicines. Neufeld led the company from $20 million in annual sales to over $250 million while also expanding Jamieson’s distribution network to over 40 countries, building it into a globally recognized brand name. Neufeld now brings this expertise to HAVLF but he’s not alone. The company has cherry-picked key talent and placed them in the proper roles as the company begins its growth phase.
Just this week, Havn announced a new partnership with veterans mental health non-profit, Westwood Institute. The focus is to work with Havn in developing therapy using psychedelics for veterans. This came just a few days after joining the Conservative Drug Policy Reform Group becoming a voting role in policy reform specific to psychedelics in the UK. Something to also keep in mind is that after gaining Health Canada approval, Havn plans to launch the first 7 natural health products in the Canadian market in 2021.
Psychedelic Penny Stocks To Watch: Mind Medicine Inc.
Earlier this year we brought attention to one of the first mushroom stocks to go public, Mind Medicine Inc. (MMEDF Stock Report). It had just recently IPOd and was one of the companies that attracted early interest from some of the names mentioned above as well as others like Toms Shoes founder, Blake Mycoskie. Since then, we’ve seen the mushroom stock climb from under $0.30 to recent highs of $1.98. This 560+% move was accompanied by several key milestones.
The company most recently launched a digital medicine division, Albert. The goal of this is to bring together a team of experts to help with R&D and develop psychedelic medicines combined with a digital therapy regimen. If you’re not entirely up to speed on digital therapy, that’s ok. These are mean of therapy delivery to patients utilizing technology like wearables and even AI to assist in proper treatment enhancements.
Right now the company is working on non-hallucinogenic “psychedelic-inspired” medicines including microdoses of LSD, with digital therapy. The goal is to monitor the outcomes including tracking engagement and patient behavior. In this aspect, Mind Med has taken this treatment and brought a technology spin to it. That isn’t something most other companies have explored yet.
“This new division will not only build apps, technologies and other platforms to help the patient, but hopefully also make the medical community comfortable with this novel treatment paradigm for mental health and addiction by measuring the potential value to their patient populations and ultimate savings to insurers.”MindMed co-CEO JR Rahn said to Benzinga
Psychedelic Penny Stocks To Watch: Numinus Wellness
Numinus Wellness (LKYSF Stock Report) was another one of the psychedelic penny stocks we’ve followed since its IPO. It hasn’t had the same clear uptrend as MindMed or Compass have. But the last 4 months saw a nice recovery move in the stock. Shares climbed from around $0.105 to recent highs of $0.6283 this week. What’s more, is that the company hasn’t been as vocal as some of the others mentioned in this article. But there have been a few sporadic updates to point to.
First, the company began a compassionate-access clinical trial of psilocybin-assisted psychotherapy for substance-use disorders in November. The study enables Numinus to test out its treatment in participants and will be done in collaboration with Syreon Corp.
Further to this, in December, Numinus and Multidisciplinary Association for Psychedelic Studies Public Benefit Corp. agreed to seek approval for delivery of MDMA-assisted psychotherapy for PTSD. This will be done via a single-arm compassionate access trial and is the first of its kind in Canada. Numinus has a Health Canada licensed lab where it has already begun psilocybe mushroom cultivation. These products are obviously used to produce psilocybin.