Psychedelic Medicine Stocks Garner Serious Investor Interest

 Investor interest in alternative psychedelic medicine is on the rise, with billionaire investors, celebrities, and high-profile execs endorsing the psychedelic medicine market either by joining strategic advisory boards or making sizable investments.

In fact, there is so much interest in psychedelics medicine that some analysts see the industry bringing in $6.85 billion by 2027.  Mental health is a big problem in America, with total spending on mental healthcare every year topping $195 billion.

Move over CBD!

Just checked-- current price of Mind Medicine (MindMed) Inc. (MMEDF) is 34.6 cents/share! Yes that's just over 34 cents. (If that doesn't tell you how risky this thing is as an investment, probably nothing will! Probably best to stay away from this and put your money to wok in a FAANG stock...or may some solid big pharma.

In February, I decided to trade my mutual fund (IRA) for Canopy Growth. While yes, I know that this type of stock is a high-risk stock... I go with my gut. I've made money so far. 

See... my IRA consists of funds that I earned through a company that laid me off and that money is the money THEY put into my 401K, so in essence, it was my "free" money. Therefore, I've always had high-risk stocks or mutual funds for my IRA. I bought Fiat / Chrysler right after Fiat and Chrysler merged. When they sold Ferrari, I made a profit and I sold it. I paid off my car and my house windows with that profit. Then when I was helping my daughter with one of her economics classes, I noticed the price of what we lovingly call "weed stocks" were a good price, so in Feb. when we reassess the IRA [yearly], I opted to take what was left in my mutual fund and put it to Canopy Growth. So this one may interest me a bit. 

I have a 401K with the company I currently work for and it's moderate, but I'm still making money on that, especially since the company matches 4%. That company still has pensions too... at least for now. I hope that they don't get rid of it. 

. I go with my gut.

Actually I do that a lot too.

Usually I first do a lot of "left brain" analysis. Lots of research! But occasionally pure intuition kicks in and I make a rapid move without any analysis at all (or sometime I do just a few quick fact checks).

I'm always trying to improve my skills, and have taken a few serious courses in developping my psychic abilities as well! (Yes, they do exist-- and it is real).. Also I've studied Astrology for over 40 years...its not the be all and end all, but it can be useful.(Its very difficult to master, takes many years).

No worries... you don't have to convince me. I've witnessed many psychic moments and have had my own psychic moments too. I find astrology interesting myself. 

When my husband and I were talking [early in our relationship] he was talking about some of the interesting behaviors of his ex-wife. I laughed and asked him, "She's not an Aquarius by chance is she"? He said, "I don't know... January 29 or 30..." That made me laugh even harder because my mom and ex-husband shared many of the same behaviors and my mom's birthday is Feb. 6 and my ex's is Feb. 16. I think I started making him a believer in the traits of people and time of year they were born [or should have been born in some cases] being linked, even if just a little.

No worries... you don't have to convince me. I've witnessed many psychic moments and have had my own psychic moments too. I find astrology interesting myself. 

I've studied Astrology for many years. Unfortunately (one of the things it took me many years to realize) is that its tremendously complex. It fairly easy to learn the basics-- but to be really good take decades. 

he was talking about some of the interesting behaviors of his ex-wife.

Well, if you're talking about Aquarius,. the word "interesting" may be a bit of a euphemism!

Others may use more judgemental word to describe Aq..

One of the key traits I've found about Aquarius is that (depending on the rest of the chart) they are usually extremely unconventional. Whether that's a good thing or a bad thing depends who's talking about it.

They tend to have many extremely unconventional views.(Which is why many great inventors were/are Aquarians. After all, in order to invent something new, you have to think about it most  than people have before...)

BTW, they are one of the signs that is often most interested in mechanical things, networking (both computer networking as well as people networking..most are  usually great with technology) .and interestingly one of the signs most likely to be interested in, (and accepting o)f Astrology....

In addition, they are a "fixed" sign,so they are very "true to themselves"-- and tend to be very honest (they won't "sell out" their deeply held values for, say material gain).And generally extremely honest (to the point of "lacking tact").

Depending upon the rest of their chart, Aq and Sg are often the most honest signs....

Generally speaking, depending onn the rest of their chart, , people with a lot of Air in their chart (in addition to Aq that means Gemini and Libra) get along with them best, although. often fire signs (Le, Ar, Sg) get along with them well too. 

They tend to have many extremely unconventional views.(Which is why many great inventors were/are Aquarians. After all, in order to invent something new, you have to think about it most  than people have before...)

Here's a video of a famous ad that IMO embodies the essence of the Aquarian energy-- its all about "thinking different":

Here's a video of a famous ad that IMO embodies the essence of the Aquarian energy-- its all about "thinking different":

Well, actually also 2 other typical Aquarian traits-- they're often quite idealistic and want to change the world. And of course its an Apple commericial abd Aquarians are often very "into" technology.

I have a 401K with the company I currently work for and it's moderate, but I'm still making money on that, especially since the company matches 4%.

That's great. Sadly that is becoming all too rare now-a-days!

That company still has pensions too... at least for now.

OMG-- you are lucky indeed! 

I remember many, many years ago when corporate pensions were fairly common, but unfortunately so many have now eliminated them.

I no longer give financial advice, but IIRC, the smartest money managers recommend that if you need some cash and are tempted to take it out from these sorts of instruments-- try not to. But rather find another source of cash. (But it seems you already know that).

Here's another commercial from Apple-- many consider it to be a great classic! (Also a great example creativity in advertising. I've studied media, taken many courses in fact-- and this is often shown in those classes as an example of artistic excellence in media):

1984 Apple's Macintosh Commercial

this is often shown in those classes as an example of artistic excellence in media):

1984 Apple's Macintosh Commercial

The reason I post it here is that, IMO, it is another example of the type of "energy" that exemplifies Aquarius.

And I'm the analytical Capricorn that likes logic and no confrontation if it can be prevented. Lacking tact is an understatement. Both my mother and ex-husband [and apparently my husband's ex-wife] were good about finding a button and poking that button repeatedly to find out how a person will react and then following that earth sign to continue to push that button and fight about the reaction when they get one. I also find Aq. to be unapologetic even when proven they're wrong. That is very irksome.

My Virgo husband and I get along very well. The times we do fight, it's usually because he's anally neat and tidy [not necessarily clean, but tidy] and the house isn't as neat as he would like because we have 3 kids and 2 pets in the house. I don't care as much about tidiness as I do about cleanliness... and I'm really only "OCD" about cleanliness in the kitchen and bathrooms. And when my husband and I do argue, if either of us gets too heated, we walk away from each other. That's what my ex and my mother couldn't ever let me do. 

Depends on the age of said Aquarian. My mother hates technology, but my ex loves it.

Over the last few years I've been transitioning mostly from large cap hi growth tech stocks (mostly the "FAANG" names) into income producing stocks (good dividends) stocks. But occasionally I also speculate.

I missed out on the pot stocks for the most part. Some time ago I bought some GWPH . This one was unusual as it had a legal product on the market! (The reason that that was possible is that its a British company,so they weren't hindered by our Neanderthal government's drug laws). But I was way ahead of my time-- it didn't move for a ;long time so I sold it near break even.

The next few times I looked at pot stocks it seemed I was too late-- they looked too expensive, then they moved down. (Haven't followed them much anymore as they looked too risky).

But attitudes seem to be changing....

One of the ones that looked best to me was Canopy, but I didn't buy it.

Last week for the first time I put some money into one though. Another really small one: GTBIF. (Also speculative-- this one's about $10/share). Then just bought a psychedelic stock, this one (MMEDF).

Both speculative, so just a small investment in each.

(They are also the only 2 stocks I own that don't pay dividends)

My broker said that as long as I was okay with the risk, Canopy would be the one he'd recommend. I was thinking Canopy or Cronos. I did my homework and while they've both lost some here and there, it's not been a steady climb or fall for quite a while. Then... as COVID hit... they both started to climb. I want to say I got Canopy at about $11 / share and it's up to almost $16.

Besides... the current CEO shows as becoming CEO on my birthday.

When buying stocks its important to know what your risk tolerance is-- obviously its not the same for everyone.

But there are things you can do to lower risk (you probably know some of these):One of the most important is diversification. Both by sector as well as company.(Diversification is a fancy word for "Don't put all your eggs in one basket).

So if you think the pot sector is great, buy some-- but also hold some different types of stocks as well.

Another thing that's often difficult for people to do-- when starting a position in a new stock, decide how much money to put in-- then buy half that amount.But the rest a bit later. 

Other strategies include using options. These vary from simple to complex and some of these strategies potentially increase your possible gain (as well as increasing your risk)..other decrease your risk significantly but also cap your potential upside.

You can also put in a "good 'till cancelled " limit order. (If you want to buy a stock that is trading at, say $100/share, decide what you want to pay and put in the order. For example, if you don't want to pay more than $90/share, you could put in a  "Good 'till Cancled and After Hours" limit order for the number of shares you want to buy at $90. Then you could forget it-- and anytime the stock dips to $90 that number of shares is automatically sold to you ...even if you're sleeping! (Obviously as with all strategies there are benefits as well as risks in doing this).

Obviously certain types of stocks are more prone to risk (and rewards) if the Virus gets much better (or worse)> I would pot stocks, whether recreational or medical, is relatively immune from virus severity fluctuations. (But while I did buy a small amount of one, I generally don't follow that sector>.

I want to say I got Canopy at about $11 /

OK that's what you want to say.

But if you don't mind saying-- what did you actually pay for it? LOL

It was $11 and some change per share.

When buying stocks its important to know what your risk tolerance is-- obviously its not the same for everyone.

But there are things you can do to lower risk (you probably know some of these):One of the most important is diversification. Both by sector as well as company.(Diversification is a fancy word for "Don't put all your eggs in one basket).

So if you think the pot sector is great, buy some-- but also hold some different types of stocks as well.

Another thing that's often difficult for people to do-- when starting a position in a new stock, decide how much money to put in-- then buy half that amount.But the rest a bit later. 

Other strategies include using options. These vary from simple to complex and some of these strategies potentially increase your possible gain (as well as increasing your risk)..other decrease your risk significantly but also cap your potential upside.

You can also put in a "good 'till cancelled " limit order. (If you want to buy a stock that is trading at, say $100/share, decide what you want to pay and put in the order. For example, if you don't want to pay more than $90/share, you could put in a  "Good 'till Cancled and After Hours" limit order for the number of shares you want to buy at $90. Then you could forget it-- and anytime the stock dips to $90 that number of shares is automatically sold to you ...even if you're sleeping! (Obviously as with all strategies there are benefits as well as risks in doing this).

Obviously certain types of stocks are more prone to risk (and rewards) if the Virus gets much better (or worse)> I would pot stocks, whether recreational or medical, is relatively immune from virus severity fluctuations. (But while I did buy a small amount of one, I generally don't follow that sector>.

I wouldn't have put all of my IRA money (which wasn't a lot) into Canopy if I didn't have my 401K, which is mostly moderate, but part conservative. My 401K is pretty much growing continuously; albeit slowly. Trust me when I say that I've done my homework and I'm making sure I have enough retirement money to live well into my 90s.

Is this satire?

Is this satire?

No. MMEDF.

Things are getting tough in the satire business.

Comedic as well.That's a shame.

Comedic as well.That's a shame.

Why?

Isn't satire supposed to be humorous?

Why would you assume that because something's "Comedic" that it isn't satire?

And BTW, I'm wondering why if it is "comedic" as you stated... why is that "a shame"? (People have different tastes of course, but I don't understand why if it is indeed actually "comedic" is that a shame?

(Unless of course you were hoping for something that wasn't "comedic" and was disappointed when you discovered that it was???)

Not that there's anything wrong with that  

No. MMEDF. Things are getting tough in the satire business.

Interesting comment, but I'm wondering what the connection is between satire and a small (& highly speculative) stock?

(BTW a lot of people regularly lose a lot of money on unproven speculative stocks such as MMEDF. However rather than being "comedic" I think its a bit sad for them. But that doesn't bother me much-- I see it quite frequently. And anyway, smart traders know when to cut their losses-- sell the stock hopefully at a relatively small loss-- and make money in the next few trades.

Probably the only thing I do feel a bit sad about is when a really naive innocent kid who thinks he knows more than he does take really big risks and thinks he's lost a lot-- and then suffers greatly-- in some cases even killing himself!

Now that's sad! (Well, IMO-- others's might laugh at him or say its his own fault so he deserves to die).

It fact that happened again relatively recently:

Apparent suicide by 20-year-old Robinhood trader who saw a negative $730,000 balance prompts app to make changes

New York (CNN Business)The family of a 20-year-old student says he died by suicide after confusion over an apparent negative balance of $730,000 on his Robinhood account. Now they are demanding answers from the  millennial-focused trading app .

The tragedy has drawn attention to the potential dangers of the free-trading boom inspired by Robinhood, which has given young, first-time investors easy access to exotic financial instruments typically used by sophisticated investors.

Well, if you're a Libertarian I suppose you might say this is entirely his fault. However, others  would blame the Robinhood (the trading programme he used).

I can see both points of view. But IMO it should be pointed out that most online trading platforms are very cognizant of the risks of being sued, so are very careful..

I really don't know all the facts, but on first glance it appears they were negligent. (For starters, they should let someone like him trade options-- perhaps not at all. Or if they should-- it should have greatly limited the amount of money he could use for this.

I really don't know all the facts, but on first glance it appears they were negligent. (For starters, they should let someone like him trade options-- perhaps not at all. Or if they should-- it should have greatly limited the amount of money he could use for this.

In addition, when people first joined they should have done a much, much better job of explaining the significant risks associated with trading options. And: required the new user to indicate they had read that!

No. MMEDF. Things are getting tough in the satire business.

Note: Since I wrote that comment, MMEDF has been added to the NASDAQ , and now trades (in the U.S.) under the symbol MNMD

(P>S: I am not reccomending buying or selling this stock as IMO its still extremely risky...)

[deleted]

Is this satire?

Is which one satire?

There's a lot here in both the seed and the various comments. (Some of which are a bit off-topic but they don't bother me so I'll leave them.)

Good please have my comment restored.