Are you Looking For Top Mushroom Stocks Right Now?
Do you remember when marijuana penny stocks were all the rage? If you do then you’ve probably been trading for the last 6 years. Around 2014, we began seeing a new “fad” with traders buying marijuana stocks. Many of the Wall Street veterans played the trend down saying it was just the flavor of the year. But 6 years later, billions of dollars have been invested and hundreds of companies have gone public.
There was even a new marijuana stock SPAC launched with Weedmaps as its target company. The SPAC, Silver Spike Acquisition Corp. (SSPK Stock Report) will be the new host of WM Holdings Company, which owns Weedmaps, an online listing marketplace for cannabis consumers. Once this news broke, SSPK stock jumped over 45% overnight.
While there’s an obvious interest that still exists in marijuana stocks, there may be a new contender when it comes to “margin” industries. I’m talking about mushroom stocks. As was the case during the early days of cannabis stocks, mushroom and psychedelic stocks are geared more toward the medical field (for now). However, the rate at which we’ve seen early adoption by government bodies may actually be much more rapid than with cannabis.
Not only has Canada made a push for medical and recreational options, but several states and territories are also already getting behind the trend. Oregon, Washington D.C. and Denver, CO, and some cities in California have either legalized or decriminalized psychedelics. Considering the amount of study that has gone into things like neurological disorders and the use of psychedelics, companies are looking to make an early push for market dominance.
Mushroom Penny Stocks To Watch: Havn Life Sciences
One thing I’m sure many traders are looking for are signs for early success. That tends to go hand in hand with who’s behind certain companies. When dealing with cannabis, for instance, it was very new for the masses so average traders weren’t up to speed on some of the names behind leading companies. Fast-forward to now and the former CEO of Canopy Growth, Bruce Linton is involved in psychedelic stocks.
Co-founder of PayPal, Peter Thiel who was behind Tilray’s early success is getting behind psychedelic stocks. As far as top names in cannabis, you’ve also got Aurora and Aphria which were part of the “big names” leading early cannabis momentum. In particular, Aphria’s former CEO, Vic Neufeld was credited with building that company into an industry juggernaut from 2014 to 2019. This was the heyday of the company and saw shares mimic the success. APHA stock jumped more than 2,200% during Neufeld’s time at the company.
Just like Linton and Thiel, Neufeld is now getting involved in psychedelics and serves as the Executive Chairman of Havn Life Sciences (HAVLF Stock Report)(HAVN). Aside from Neufeld, Havn is also pushing forward with its own growth strategy. 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.
Mushroom Penny Stocks To Watch: Mind Medicine Inc.
Mind Medicine Inc. (MMEDF Stock Report)(MMED) is one of the first psychedelic stocks to go public. It’s also one that Linton along with Shark Tank’s Kevin O’Leary have backed. One of the unique things to consider with MindMed is its use of technology in potential psychedelic treatment. We touched on this a bit earlier in the month. The company launched a digital division, Albert, utilizing virtual reality and psychedelic care.
“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
MindMed is also conducting trials for things like LSD. Last month it competed a Phase 1 study and plans a Phase 2 of LCD in patients with certain anxiety disorders. With the recent launch of Albert and these ongoing trials, it will be interesting to see how MindMed progresses with Psychedelic treatment options for patients.
Mushroom Penny Stocks To Watch: Numinus Wellness
Numinus Wellness (LKYSF Stock Report)(NUMI) has been one of the mushroom stocks we’ve followed since its Canadian debut. However, since coming onto the U.S. exchange, volume and price seem to have both picked up. That’s especially true when discussing the latter half of 2020. This month, Numinus increased its financing with Canaccord Genuity Corp and Eight Capital to roughly $15 millionCAD and the money already has a home.
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Numinus plans to deploy funds to upgrade its lab and equipment in preparation for clinical trials. The company also aims to facilitate R&D of medical standards and procedures for using psychedelic therapies. There’s also potential to identify and construct a facility to complement its current wellness center. The company has set out plans to build out a purpose-built facility in 2021. The goal is to create a network of therapeutic centers across North America.
Earlier this year, the company began cultivating Psilocybe mushrooms for the purpose of psilocybin production. Psilocybin-assisted psychotherapy is currently being studied as a treatment for a range of mental health conditions including depression, anxiety, and substance use disorders. The company has also begun a compassionate-access clinical trial of psilocybin-assisted psychotherapy for substance-use disorders in last month. The study enables Numinus to test out its treatment in participants and will be done in collaboration with Syreon Corp.
Mushroom Penny Stocks To Watch: Mydecine Innovations Group Inc.
Mydecine Innovations Group Inc (MYCOF Stock Report)(MYCO) has followed a similar trend as many of the other names in this niche. Shares of MYCOF stock have climbed as much as 100% since the start of November. Daily trading volumes have also increased. The Wednesday session saw the highest, single-day share volume to date.
What’s more, is that attention has been placed on the company Thursday following its latest update. The company announced today that Mydecine partnered with Microdose Psychedelic Insights. Microdose is a B2B psychedelic intelligence company and the two will present a free, three-part live video discussion series. Titled “Mydecine Speaker Series” it will cover research, psychedelic therapies, PTSD, microdosing, and drug discovery.
The company began picking up steam last month after updating the market on its current clinical trials. Mydecine announced the international expansion of its Phase 2A clinical trials of psilocybin-assisted psychotherapy to treat chronic PTSD. This is a trial in veterans and EMS personnel. Through these trials, Mydecine looks to sustain the safety and efficacy of psychedelic administered psychotherapy in a safe and supervised setting.
Moving forward, Mydecine will likely be on the watch list as its clinical trials roll on. Considering the company is also building upon its Scientific and Medical leadership, it will also be something to keep in mind with this psychedelic company.
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