Psychedelic stocks could be one of the most interesting trades of 2021.
The stock has a good number of catalysts.
For one, the US FDA is supportive of psychedelics research. Two, medical studies from institutions such as Johns Hopkins are finding that psychedelics can assist in the treatment of many health and mental issues impacting millions of people around the world.
Three, there’s rapidly changing consumer attitudes towards psychedelics, just as we saw with cannabis around the world. Four, with plenty of clinical trials supporting psychedelic treatments, it’s only a matter of time before big pharmaceutical companies begin to invest heavily, and incorporate psychedelics into their own drug pipelines.
There’s also a new ETF, the Horizons Psychedelic Stock Index, which just went live under the ticker PSYK on the NEO Exchange.
“The ETF includes companies in the Canadian legal psychedelics industry, as well as U.S. companies engaged in legal activities involving psychedelic drugs and substances. The purpose of the ETF is to ‘invest in, and indirectly derive revenues from, companies in the psychedelics industry engaged in legal activities involving psychedelic drugs and substances,’” as noted in a recent press release from Mind Cure Health.
In addition to the ETF, other top stocks to keep an eye on include Cybin (CYBN), Mind Medicine (MMEDF), Compass Pathways (CMPS), and Tryp Therapeutics (TRYP).