Psychedelic Drug Stocks Continued To Decline Last Week

Sixty clinical-stage psychedelic drug stocks research the treatment of a variety of mental illnesses based on the use of 10 different psychedelic substances of which 12, with market capitalizations of $50M or more, are constituents of the non-tradable munKNEE Pure-Play Psychedelic Compounds-Based Drug Stocks Index and that index has declined -5.7% last week and is now -16.1% so far in November.

Only 2 of the constituents advanced last week, 1 is unchanged in price, and 9 have declined, as follows:

The Winners Are:

  1. GH Research (GHRS): UP +16.7%
  2. Awakn (AWKNF): UP +1.3% (Read: Awakn Life Sciences: Wake Up To The Huge Potential) 
  3. Mydecine (MYCOF): No Change
    • based on somewhat favorable Q3 financial results.

The Losers Are:

  1. Small Pharma (DMTTF): DOWN -2.4%
  2. Mind Medicine (MNMD): DOWN -8.4%
    • based on less than favorable Q3 financial results
  3. Seelos (SEEL): DOWN -11.6%
  4. Compass (CMPS): DOWN -12.2%
  5. Field Trip (FTRP): DOWN -12.9%
    • based on unfavorable Q2 financial results.
  6. Red Light Holland (TRUFF): DOWN -13.3%
  7. Numinus (LKYSF): DOWN -15.8%
  8. Cybin (CYBN): DOWN -16.1%
    • based on unfavorable Q2 financial results.
  9. atai (ATAI): DOWN -21.9%
    • based on unfavorable Q3 financial results.

The non-tradable Psychedelic Market Leaders Index of 30 stocks has an average market cap of $240M and it was DOWN -7.0% last week while the non-tradable Psychedelic Invest Index, which tracks the performance of ALL 60 stocks in the sector (an average market capitalization of just $138M), was DOWN -7.1% conveying that the nano-cap stocks (i.e. those with market caps of less than $50M) performed worse than the larger cap psychedelic stocks.

For the sake of comparison, the 8 constituents in the munKNEE Pure-Play Marijuana-Based Drug Stocks Index, consisting of Allied (ALID), Corbus  (CRBP), Enveric (ENVB), MGC Pharma (MGCLF), Revive (RVVTF), Tetra Bio (TBPMF), Zelira (ZLDAF), and Zynerba (ZYNE) and with an average market cap of only $100M was down -9.5% last week and is now down -4.7% so far in November.

Action Going Forward

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