It’s not news that pot stocks gave investors some sweet returns in 2020, but not everyone got to the party on time. If you feel like you missed the boat on the cannabis boom, there might be an exciting new investment opportunity in the world of medicinal drugs in the form of magic mushroom stocks.
Although magic mushrooms are still mostly illegal in the US and other countries, research has shown the drug’s effectiveness at treating conditions such as depression, anxiety, and opioid addiction.
The nascent industry is showing some promising potential for investors to get in early. In other words, we think you should be psyched about investing in psychedelics.
If you’re looking to get in on the shroom boom this New Year, there’s one company that’s even got Mr. Wonderful from Shark Tank all hyped up.
Mind Medicine (aka MindMed)
Mind Medicine is a psychedelic medicine biotech company that develops and deploys psychedelic-inspired medicines for the treatment of conditions including anxiety, seasonal affective disorder, and ADHD.
Using substances including LSD, MDMA, and magic mushrooms, the company offers the broadest array of psychedelic drugs currently being researched and developed.
Psilocybin (the active chemical found in certain types of mushrooms) is currently classed as a Schedule I substance under the Controlled Substances Act, meaning that the drug is illegal, not currently allowed for use medically, and classified as having a high potential for abuse.
And one of the biggest hurdles in MindMed becoming a lucrative investment is society overcoming the social stigma and taboo that currently comes with using psychedelics, especially for medicinal purposes.
However, with more and more research pointing towards medicinal efficacy for psychedelics, it appears that we’re on the precipice for a major shift in this attitude.
Consequently, the company has a lot of exciting potential and is currently conducting its FDA-approved clinical trials early this year. Even Shark Tank’s Kevin O’Leary (aka Mr. Wonderful) has expressed enthusiasm in the investment opportunity.
In the words of the man himself, “This could save lives, cure depression, help alcoholism, get people off opioids—why wouldn’t I want to be invested?”
Are you interested in investing in magic mushroom (psychedelic) stocks? Let us know in the comments below!