4 Psychedelic Stocks For Your Watch List This Year

Whether you’ve traded for decades or just opened an account, the market attracts you for a reason. That is usually related to making money & penny stocks have become a clear focus for traders this year. Not only that, but the inauguration of a new President in the U.S. may also signal potential opportunities for certain industries. The 2020 election saw more than just a new choice for a commander in chief. It also saw the dawn of a new era for things like cannabis and, you guessed it, psychedelics.

The push for decriminalizing things like psilocybin in the US started in the late 2010s. Denver ultimately became the first city to decriminalize psilocybin in May 2019. The cities of Oakland and Santa Cruz, California, also followed along and decriminalized psilocybin in June 2019 and January 2020, respectively. However, a big step was taken by the state of Oregon during the 2020 elections. The state became the first actually to legalize magic mushrooms. On top of this, Washington D.C., voters elected to decriminalize the use of magic mushrooms and other psychedelic substances. This came with the passage of Initiative 81.

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While there are staunch opponents to this movement, there has become a growing body of science supporting certain claims. But it’s still a very young industry all the same. Companies focus on psychedelics’ medicinal and recreational potential & even the non-psychoactive, nutraceutical applications presented. With that, the ball has already begun rolling, so to speak.

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Like cannabis, similar industries took time to gain traction on major exchanges, but Peter Thiel kicked things into overdrive with the NASDAQ listing of Compass Pathways (NASDAQ: CMPS). It isn’t the only psychedelic company listed on an exchange like this. However, it was a company that has blazed a trail for investors to begin following the industry’s developments.

Thiel isn’t the only big investor jumping into the world of psychedelic stocks. There’ve been countless names from the early days of cannabis throwing their hats into this ring. Even Shark Tank’s Kevin O’Leary has placed a bet on mushroom stocks. With this in mind, are any of these on your list of magic mushroom stocks to watch for 2021?

Psychedelic Penny Stocks To Watch

  1. Havn Life Sciences (OTC: HAVLF) (CSE: HAVN)
  2. MindMed Inc. (OTC: MMEDF) (NEO: MMED)
  3. Seelos Therapeutics (NASDAQ: SEEL)
  4. Cybin Inc. (OTC: CLXPF) (NEO: CYBN)

Havn Life Sciences

Havn is one of the companies we’ve discussed plenty of times in the past. One of the things that initially attracted attention was its Chairman of the Board of Directors. Vic Neufeld assumed the role last year and brought with him a founder’s mentality. Most notably, Neufeld was credited with leading Aphria (NASDAQ: APHA) on its path of success during the early days of cannabis legalization. He now has put his focus on the psychedelic industry.

However, Havn is obviously more than just 1 person. The company itself has begun rolling out its first retail products already. In fact, last month, the company announced a product listing agreement for product sales in select Nesters Markets in British Columbia. “This is a major milestone for Havn Retail, enabling us to reach our goal of launching our initial product line in the market for early 2021,” said Tim Moore, CEO of Havn Life.

In addition to the retail aspect, Havn has also entered into partnerships to advance its scientific platform. The company partnered with Complex Biotech Discovery Ventures to begin Health Canada approved analysis of psilocybin under Havn Life’s section 56 exemption. Havn looks to develop the first library of psilocybin compounds to lay the foundation for the future advancement of proprietary extraction methods. 

psychedelic penny stocks Havn Life Sciences HAVLF stock chart

MindMed Inc.

One of the first companies to actually go public as a psychedelic stock was MindMed. Early last year, we discussed the company just a few days after its IPO. At the time, MMEDF shares were trading around 50 cents, and it was so new that it was only trading fully in Canada. In the U.S., it didn’t actually show a bid or ask on certain platforms. Fast-forward to this month, and MindMed now trades above $3 and traded as high as $5.07 in December.

There’ve been plenty of milestones discussed over the last few months. However, the most recent update seems to have become a bigger attraction for the market. This week the company announced the start of the first-ever clinical trial measuring and evaluating MDMA and LSD used in combination in the human body. This trial will be conducted at the University Hospital Basel Liechti Lab, in Basel, Switzerland.

The idea is that this combination treatment will lessen some of the negative side effects of LSD. President of MindMed, Dr. Miri Halperin Wernli, explained, “I believe that when LSD and MDMA are taken together they have exceptional potential to open a window into our mind which will awaken it to new levels of awareness by changing the fluidity of the ‌state‌ ‌of‌ ‌consciousness, amplifying‌ ‌changed‌ ‌perceptions,‌ ‌intensifying ‌emotions‌, ‌and‌ stimulating ‌novel‌ ‌thoughts.‌”

However, with the study expected to take roughly a year to complete, there’s still much to be revealed. In addition to this study, the company is also looking at LSD microdosing and the benefits on neuroplasticity, sleep, and even immune system response.

psychedelic penny stocks MindMed Inc. MMEDF stock chart

Seelos Therapeutics

One of the listed penny stocks on this list is Seelos Therapeutics. It isn’t a “magic mushroom” stock, so to speak. However, it is using things like ketamine for treatment in mental illness. Aside from its past as a “club drug,” new findings show the treatment’s medical potential. “Outside of the clinic, ketamine can cause tragedies, but in the right hands, it is a miracle,” says John Abenstein, MD, president of the American Society of Anesthesiologists.

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This month, Seelos announced its first patients’ dosing in the study of its SLS-002 drug candidate. SLS-002 is Seelos’ intranasal racemic ketamine for treating acute suicidal ideation and behavior in major depressive disorder patients.

“The dosing of the first patients in our study could not come at a more crucial time as there still remains a high unmet need for a therapy to address the symptoms of suicidality,” said Raj Mehra, Ph.D., Chairman, and CEO of Seelos.

The duration of the study is 16 days. This includes approximately 7 days inpatient and 9 days outpatient. Participants will be dosed twice weekly for a total of five doses with a safety follow up for two weeks. Seelos expects to give its first data readout upon completing the study with the first 16 patients in the Part A portion of the study.

psychedelic penny stocks Seelos Therapeutics SEEL stock chart

Cybin Inc.

Another one of the psychedelic stocks that has gained attention recently is Cybin Inc. Shares of the magic mushroom stock reached new record highs this week as shares extended a multi-week rally. Late last year, the company closed on its acquisition of Adelia Therapeutics Inc. Adelia holds a range of technologies related to certain therapeutics, delivery methods, and therapeutic regimens, as well as six patent applications.

Right now, the company is building upon its therapeutics program, which includes numerous psychedelic compounds. It’s also building a database of molecules to use in the pharma industry. This includes partnering with companies to aid in this initiative. This month, for instance, Cybin teamed up with Kernel, a tech company, to use Kernel’s platform in observing and quantifying brain activity. Specifically, it will be able to do so in real-time during psychedelic experiences.

While this is still a relatively novel market, many see the industry’s future potential right now. Cybin is one of a few that’ve focused on leveraging tech to enhance its analysis strategy further.

psychedelic penny stocks Cybin Inc. CLXPF stock chart

Magic Mushroom Stocks Are Hot In 2021

When it comes to magic mushroom penny stocks, the list continues growing. It’s important to keep in mind that there is still plenty of risks to look out for. Since many newcomers to this arena are very early stage, speculation can play a larger role. It’s important to look for companies that not only have a plan but are executing on it. It’s also worth mentioning that leadership with a proven track record also is a strong point to have in mind.

best mushroom stocks to watch right now
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