Psychedelic Penny Stocks Continue Gaining Ground Among Mainstream Investors
Like any “fringe industry,” there’s plenty of hype and speculation driving momentum behind penny stocks in certain industries. Those of you who’ve been in the markets for the last few years are likely familiar with this trend. We saw it during the early days of cannabis legalization, as well as during the 2018 bitcoin craze and most recently with all of these “NFT stocks.”
Many of these trends go on to evolve into something much bigger than ever thought. A prime example of this is the cannabis industry. Marijuana stocks have gone through the paces. They’ve reached the highest highs and fell to the lowest lows, all while carving out a brand new industry during the last half-decade. The interesting part is that many of the early analysts doubted the industry’s future, saying it was just a fad.
A lot has changed since the first cannabis company went public. This isn’t just based on the birth of a new industry. It’s also based on changes in the mentality of investors. Now it isn’t so “unlikely” for a trendy industry to actually become something more than just a fad. This is something that we’ve begun to see in psychedelics.
Early Adopters In Psychedelics Spark Interest In Penny Stocks
Unlike cannabis, psychedelics haven’t had as hard a time gaining traction in the public markets. Most notably, the IPO of Compass Pathways (NASDAQ: CMPS) brought validity, in some respect, to this as a viable industry. It also helped that famed investor Peter Thiel was behind the CMPS IPO.
Aside from notable investors, you’ve also got to consider that big pharma has taken a considerable interest in this uncharted territory as well. Johnson & Johnson had initially broached the opportunity to develop a ketamine-like drug for treating depression a few years back.
However, it didn’t stop there with Big Pharma’s blooming interest. In fact, recent headlines have emphasized the opportunity in psychedelic stocks. Merck (NYSE: MRK) recently inked a partnership deal with Novamind (OTC: NVMDF). Merck selected Novamind’s Cedar Clinical Research as a research site for a clinical trial focused on treatment-resistant depression. The study focuses on Merck’s drug for treatment-resistant depression. Though there weren’t many details about the treatment, it is an interesting tie-in between a market leader like Merck and a psychedelic company.
Psychedelic Penny Stocks To Watch This Year
This industry’s early stages have become an attraction to those who’ve focused on “emerging growth” type companies. It’s no wonder why so many of these psychedelic stocks are currently penny stocks in this light.
Blending Cannabis With Psychedelics On A Global Scale
PharmaDrug is unique on several levels right now. Not only does it have a portfolio that includes both cannabis and psychedelic developement, what is being developed…