Updated: March 9, 2022, 6:15 p.m.
Psychedelics have gone from countercultural fad of the 1960s to mainstream medicine in the 2020s.
Quite a few psychedelic pharmaceutical companies are developing drugs that follow the legal regulatory pathway to approval. Hallucinogens, including psilocybin, are showing considerable promise in treating illnesses such as depression and schizophrenia.
Several of these drugmakers are publicly traded, and they’re receiving increased attention from investors. We’ve seen a similar phenomenon with marijuana stocks over the past several years. Cannabis was once on the fringe but is now a significant and growing industry.
Whether you call them magic mushroom stocks, ‘shroom stocks, or psilocybin stocks, psychedelic stocks are hot right now. Learn more below about six of the best publicly traded psychedelic companies on the market today.
Best psychedelic stocks
All psychedelic stocks are simply healthcare stocks that focus on the use of hallucinogens in treating diseases. Because the area is still relatively new, most of the companies have relatively low market capitalizations. However, many of them are growing rapidly. Here are six of the best psychedelic stocks:
Company | Market Cap | Description |
---|---|---|
Atai Life Sciences (NASDAQ:ATAI) | $860 million | Developing multiple drugs based on psychedelic substances, including ibogaine and ketamine. |
Read more:6 Psychedelic Stocks to Consider in 2022 | The Motley Fool