I heard of this company originally via a random YouTube channel about Canadian dividend investing, then upon a bit more or research I saw that former Shark Tank Mr. Wonderful was an early investor, which gave me a feel of solidity regarding the company.
MindMed is a biopharmaceutical company focused on treating mental illness and addiction via psychedelic substances (e.g., LSD, psilocybin), and intend to do so by undergoing proper FDA approval and clinical trials, as any other medicine.
While this looks pretty good on paper, their approach is extremely new if we compare it with the traditional way that mental illness has always been treated medically, and we’ll start to see in the following months ( with the phase 2 and 3 trial completion for their starting medicines ) if the company has a future, or not.
I had a little investment in this company the last year, and while the stock has become a 10-bagger since then ( multiplied its value x 10 ) let’s not forget that its viability can be reduced to a binary event: Either their pipeline is approved or it is not, in which case it would be valued at zero. So it is a high risk, high reward play where the company could be valued at millions or at zero in the following years.
MindMed will be part of the Nasdaq on April27, and is expected that options will be available after a week of trading.
Some volatility/performance numbers since last year:
- 5-Day Change +2.3500 (+100.43%)
- 1-month performance: +2.2000 (+88.35%)
- 3-month performance: +1.1900 (+34.00%)
- 52-week performance: +4.2317 (+923.35%)