Numinus Develops Mushroom Tea for Use in Psychedelic ResearchIs the Psychedelic Sector Poised for a Comeback?!?PSYC + Nucleus Form New Partnership to Develop and Launch Psychedelic FinderWhat You Need to Know About Numinus Wellness…Numinus provides update on acquisition integration and announces new client financing optionsPSYC Corp’s Psychedelic Spotlight Surpasses One Million Page Views for Fourth Consecutive MonthNuminus to Participate in the H.C. Wainwright 24th Annual Global Investment Conference on September 12-14, 2022The Psychedelic Sector is Quietly Outperforming the S&P 500PSYC Completes and Publishes 2021 Audited Financials; Will Begin Audit of Q1 & Q2 2022Numinus to Participate in the H.C. Wainwright 24th Annual Global Investment Conference on September 12-14, 2022PSYC’s Bonfire Platform Development Progresses; Will Host Free Virtual Community Event on August 29thThe Psychedelic Sector Has Come Back To Life After A Very Challenging Couple Of YearsBraxia Scientific Enters U.S. Telemedicine Industry; Acquires KetaMD, a Mental Health Platform Providing Beneficial KetaField Trip Health Ltd. Receives Conditional Approval for Listing of Common Shares of Field Trip Health & Wellness LPSYC Has Been Hitting Some Major Company Milestones Over The Last MonthPSYC Corp’s Psychedelic Spotlight Surpasses One Million Page Views for Third Consecutive MonthCognetivity Neurosciences Launches Paid Pilot Project with MS&AD Group CompaniesField Trip Announces First Dosings in Phase I Clinical Study of FT-104PSYC Corporation Has Been Seeing A Favorable Response From The Market Following Several Positives Milestones Being HitNuminus Wellness Is One Of The Bright Spots Of The Psychedelic Sector
Back

The Psychedelic Sector Has Come Back To Life After A Very Challenging Couple Of Years

Aug 15, 2022 • 7:01 AM EDT
2 MIN READ  •  By Anthony Varrell
Share Share - Facebook Share - Twitter

During the last month, the psychedelic sector started to generate traction with investors and we have noticed a significant increase in interest in public operators (based on an uptick in the average number of shares traded per day).

Below, we have highlighted the performance of psychedelic exchange traded funds (ETF) for our readers to see how the sector has bounced off its recent lows:

  1. AdvisorShares Psychedelics ETF (NYSE: PSIL) – July was a good month for the ETF which rallied almost 20% off last month’s low
  2. Defiance Next Gen Altered Experience ETF (NYSE: PSY) – After the ETF came under pressure in the first half of the year, it has rallied approx. 15% off its July lows
  3. PSYK ETF (NYSE: PSYK) – The ETF has traded in a pattern like PSIL and PSY and has rallied more than 10% off its recent low

From clinical trial biotech firms to ketamine clinics, we have noticed increased interest in almost every vertical of the psychedelic sector and consider this to be a bullish trend. During the last few months of the calendar year, we will be monitoring how the sector continues to perform and want to highlight a few operators that have been on our radar.

  1. Numinus Wellness (OTC: NUMIF) (TSX: NUMI) – After reporting earnings a few weeks ago, the mental healthcare company has been in rally mode and has bounced more than 25% higher since then.
  2. Irwin Naturals Inc. (OTC: IWINF) (CSE: IWIN) – Recently made a strategic human capital addition to the leadership and has rallied more than 15% since late July.
  3. PSYC Corporation (OTC Pink: PSYC) – After recording a sharp pullback in late June, the psychedelic media firm has been surging higher on much stronger-than-normal trading volume. PSYC has bounced more than 75% off these lows and we are monitoring how it trades from here

After a challenging two years, we are glad to finally see increasing interest in the psychedelic sector and will be monitoring how it continues to perform. We believe the most significant potential catalyst for the sector would be a biotech firm announcing positive Food and Drug Administration (FDA) clinical trial results.

We believe that positive clinical trial data would have a GW Pharmaceuticals type effect on the psychedelic sector. Last year, the cannabis biotech firm was acquired for more than $200 per share and was the first to bring an FDA approved cannabis-based therapy to market.

Over the next year, we expect to learn more about the biotech side of the psychedelic sector and will monitor how advancements in this vertical impact the entire industry. We believe the development of psychedelic therapies could negatively impact the world’s largest pharmaceutical companies and want our reader to continue to closely follow the sector.

If you are interested in learning about operators with leverage to the psychedelic sector, please send an email to support@mushroomstocks.com with the subject “Leading Psychedelic Operators” to be added to our distribution list.

Share Share - Facebook Share - Twitter

Tags

Authored By

Anthony Varrell

Anthony Varrell is Managing Director of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

Comments

Top Stories

Get the Latest Cannabis News & Stock Picks.

Enter your email below to join the official Mushroomstocks newsletter.

 All good -- no spamming here.

The psychedelics sector is starting to take off as smart money begins to position itself across the industry.

Stay updated with all latest updates,upcoming events & much more.
Subscribe
SUBSCRIBE NOW
close-link