best mushroom stocks to watch right now

Psychedelic Stocks Are Taking A Bright Spotlight In December 2020

If you’re looking for magic mushroom stocks to buy, you’re likely to be hunting for penny stocks right now. The vast majority of these psychedelic names are under $5 right now. With the exception of a select bunch, including Peter Thiel-backed Compass Pathways (CMPS Stock Report), your choices are limited if you’re searching for stocks over $5. Much like we saw during the early days of marijuana stocks, magic mushroom stocks are on the “fringe” with only some testing the waters right now.

But the fact remains, while we’ve continued following the early evolution of this trend, the similarities are unmistakable compared to pot stocks. This isn’t only specific to the stocks but the initial focus. Think back to the early days where marijuana stocks “would never make it” according to the talking heads on TV. The main focus for many was first on the biotechnology aspect of cannabis. Fast-forward to 2020 and now recreational weed is in the same conversation as buying a bottle of wine or 6-pack of beer in many states.

Should Magic Mushroom Penny Stocks Be On Your List?

Will we start seeing psychedelic products on shelves tomorrow? In short, no, but microdosing and psychedelic-assisted therapy is now hitting the mainstream. There are already a few companies gaining in early popularity due to who’s backing them. For instance, MindMed (OTC:MMEDF Stock Report) is a company we’ve discussed since its IPO.

[Read Mor] Looking For Top Penny Stocks Right Now? 3 Psychedelic Stocks To Watch

Thanks to big names like Shark Tank’s Kevin O’Leary and former CEO of Canopy Growth, Bruce Linton, MindMed has gained an early appeal from some. But it isn’t the only one. What’s more, is that there are plenty more likely to come about. There’s even another big magic mushroom IPO in the works that could further boost intrigue in the space. But for those looking for magic mushroom stocks on Robinhood, the selection is very limited. The vast majority are only on the US OTC or foreign exchanges right now.

As you’ll read, the first movers of this industry could pave the way for the onslaught of new names to come. Just like cannabis, however, it may also be these first movers that become the “Canopy’s,” “Aphria’s,” “Tilray’s,” and “Curaleaf’s” of the magic mushroom industry. For now, though, just understand that there’s a lot of speculation involved. But it doesn’t hurt to keep tabs on what could become another major market in psychedelics.

Magic Mushroom Penny Stocks To Watch: Havn Life Sciences

Havn Life Sciences (OTC:HAVLF Stock Report)(CSE:HAVN) has been on the watch list for several weeks now. The company has gained a lot of notoriety thanks to big names of its own. In fact, when you talk about the recognizable names in cannabis, Aphria is among those listed. While Linton has gotten behind MindMed, another pot stock industry trailblazer has pinned his flag on Havn. Vic Neufeld, the former CEO or Aphria credited for the company’s earlier growth between 2014 and 2019 is the Executive Chairman of Havn. What’s more, is that it’s not just Neufeld holding a winning record of success in a unicorn industry.

CEO Tim Moore has his own history of building billion-dollar businesses. Moore was the former CEO of Green Growth Brands. He took the company from IPO through to the beginning of 2019, leading it to a nearly $1 Billion market cap. EVP Susan Chapelle is highly regarded in the cannabis arena as well. Her expertise in the healthcare sector brings a wealth of industry expertise and leadership experience. Even Havn’s Chief Scientific Officer, Gary Leong is an Aphria alumnus.

Aside from the team, Havn itself has worked toward a running start for 2021. The company recently 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. Additionally, Havn signed an MOU this week supplying products and compounds for use in Heroic Hearts’ future clinical studies. They will investigate the effects of low-dosage psychedelic compounds on veterans suffering from emotional trauma and PTSD. There’s also a plan to launch the first 7 natural health products in the Canadian market in 2021 after receiving Health Canada approval.

mushroom stocks to watch Havn Life Sciences (HAVN stock chart)

Magic Mushroom Penny Stocks To Watch: Numinus Wellness Inc.

Another one of the magic mushroom penny stocks you might’ve missed this month is Numinus Wellness Inc. (OTC:LKYSF Stock Report)(TSXV:NUMI). While many headlines discussed MindMed, Numinus stock mounted a strong rally from just 11 cents to recent highs of $1.13 this month. Since August, that move has equated to a jump of over 920% in just a few short months. The big thing to consider is that trading activity has only recently begun picking up starting in the fourth quarter.

What may have helped with that is what was announced at the end of September. Numinus began cultivating psilocybe mushrooms at tis Health Canada licensed lab. These mushrooms will go into psilocybin production. Psilocybin has been found to have favorable outcomes in psychotherapy for things like depression, PTSD, substance abuse disorders and anxiety, among other things.

[Read More] Hot Penny Stocks On Robinhood To Buy Under $4 & 1 With 343% Target

Something to note right now is that no matter what company you look at, you’re likely seeing a very early stage company. This is where you’ll see companies raising funds for development. While this could present potential dilution risk, it is a necessary evil to push forward with progress. Earlier this week, Numinus announced an increase to a previously announced offering. In this case, it boosted its aggregate gross proceeds to approximately $15-million. Proceeds are earmarked for everything from lab upgrades, trials, and even R&D. Heading into 2021, traders will likely follow progress to see exactly what is upgraded and how trials progress.

mushroom stocks to watch Numinus Wellness Inc. (NUMI stock chart)

Magic Mushroom Penny Stocks To Watch: Mydecine Innovations Group

Mydecine Innovations Group (OTC:MYCOF Stock Report)(CSE:MYCO) is another one. of the magic mushroom stocks we’ve been following for the last few weeks. It’s also begun experiencing an uptick in momentum this quarter. While the fourth quarter, in general, the last month and a half was one of the most active periods. In fact, just this week, MYCOF stock has jumped 67% so far.

As I said, upcoming IPOs and early success in this space have contributed to recent momentum. However, you can’t forget to monitor company-specific progress as well. This is the case with Mydecine, recently. This week, the company made its first commercial export of legal psilocybin mushrooms to its Canadian. The company has just completed its first commercial harvest of psilocybin mushroom at its facility in Jamaica. Since Mydecine’s Canadian facility has a Health Canada schedule 1 dealer’s license, it’s able to legally import its product.

Right now, mushrooms are being utilized for their compounds which are extracted. Unlike weed, no one’s smoking mushrooms. Mydecine will refine the extract and makie it available for purchase by other licensed companies. Mydecine also plans to study some of the compounds for potential use down the line in psilocybin-assisted psychotherapy for PTSD. As far as what to keep track of with Mydecine, later this month, the company, along with Microdose Psychedelic Insights present on The Renaissance of Psychedelics web series. That will be next Tuesday afternoon.

mushroom stocks to watch Mydecine Innovations Group (MYCO stock chart)

Magic Mushroom Penny Stocks To Watch: Mind Cure Health Inc.

Mind Cure Health Inc. (OTC:MCURF Stock Report)(CSE:MCUR) is another one of the lesser-discussed magic mushroom stocks. However, it has begun experiencing a higher level of momentum this month. Shares have climbed from around $0.41 to recent highs of $0.69. It’s a relatively lightly traded penny stock so that may be a reason why so many are turning attention to other names right now. However, Mind Cure only recently announced its psychedelic research program. The initial focus will be on psilocybin, ketamine and ibogaine.

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Mind Cure President and CEO Kelsey Ramsden said, “Under the leadership of Dr. Hartwell, research using these first three psychedelic compounds is just the beginning. Our focus is on bringing treatment to market with speed and rigor, as such these compounds make the utmost strategic and tactical sense due to their proven efficacy and alignment with the areas of mental health that we are focused on.”

Thursday, the company added to this progress as well. Mind Cure plans to open its firs Mind Cure Health Center in Canada. The tentative date is by May of next year. The company intends to offer patients therapeutic treatments with ketamine and psilocybin. Something else to note is that the company is planning to offer personalized and technology enabled care. If you remember, MindMed has also taken a similar approach offering a technologically-enhanced experience.

mushroom stocks to watch Mind Cure Health Inc. (MCUR stock chart)
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