Overall, we still see the #psychedelics sector spinning its wheels.
Market conditions remain poisonous for most of these stocks. Corrupt governments (dealing with out-of-control mental health crises) remain lethargic in pushing through necessary legal reforms.
$PSYK $PSIL
Then there is $MNMD...
microdose.buzz/news/mindmed-…
I'm still holding most of my shares here, but if the ship doesn't get righted soon, will have to review the situation.
$MMED $MMQ
I'm disappointed (but not totally surprised) that the Field Trip/Reunion Neuroscience hasn't been accretive for shareholders. I didn't see this as a good time for #psychedelics entities to be making themselves smaller.
How the Psychedelics Industry Is Taking on the Future
The mainstream media is finally starting to catch up to the content we were already producing in early 2020. 😉
#psychedelics #psychedelicstocks $PSYK $PSIL #shroomstocks newsweek.com/how-psychedelic…
$DRUG powers higher today (+72.80%) despite the strong selloff in markets. Another mega-volume day: 82+ million.
More of a "tug-of-war" day for $MNMD: volume (on the NASDAQ) 57+ million, but relatively unchanged in price (-1.50%).
#psychedelicstocks $MMED #shroomstocks
$DRUG (+169%, vol: ~50 million) and $MNMD (+7.87%, vol: ~33 million) resume their uptrend and heavy trading.
#psychedelicstocks $MMED #shroomstocks
An unfortunate day to follow up yesterday's general bounce for the sector and insane feeding frenzies on $MNMD and $DRUG.
Due to technical imbalances in the options market, this is creating a strong downward bias across equity classes and global markets.
#psychedelicstocks
The OTHER feeding frenzy on the day was $DRUG.
An even bigger bounce (+135.87%) on even heavier volume, by dollar value: 119 million shares.
Obviously, $DRUG (and many others) were way overdue for such a corrective bounce.
#psychedelicstocks #shroomstocks $PSYK $PSIL
We saw elevated volume (and smaller bumps in share price) for several other players across the #psychedelics space today.
It will be very interesting to see what happens when markets open on Friday. 😉
A little slow getting today's main market action, but the numbers speak for themselves.
$MNMD +36.18%
NASDAQ volume: 224+ million shares.
Calling that "a feeding frenzy" would be a bit of an understatement (lol).
#psychedelicstocks #psychedelics #shroomstocks $MMED $MMQ
What sparked this sudden stampede is (apparently) this...
Mind Medicine Stock Is Surging. A Student Who Made $110 Million Trading Bed Bath & Beyond Could Be Why
finance.yahoo.com/m/dfec50a3…
atai Life Sciences Reports Second Quarter 2022 Financial Results & Business Update
$ATAI announces a new $175 million loan facility, streamlines operations, and now has total cash/financing of $487 million.
#psychedelicstocks $CMPS $PSYK psychedelicstockwatch.com/ps…
I hope the smaller pubcos are paying attention. Even AFTER lining up $175 million in new financing, $ATAI is streamlining operations.
For smaller companies, they need to come up with their own survival strategies.
California Bills Allowing Interstate Marijuana Commerce And Protecting Employees Advance, While Psychedelics Legalization Fate Unclear
Confusion in California on the fate of new #psychedelics legislation as "final language" unavailable
#psychedelicstocks marijuanamoment.net/californ…
State decriminalization bills for the #psychedelics themselves are nice, but what is more important for the industry is advancing psychedelic medicine.
Not much (even in the draft language) here, so regardless of how this shakes out, not much short-term impact for the sector.