Rotation Opportunity As Three Top Psychedelic Stocks Explode

Let the good times roll!

Larger public companies in the psychedelic drug space have racked up spectacular gains since the Compass Pathways (US:CMPS) IPO apart from Compass itself.

 It was a game-changer for the sector. The numbers speak for themselves.

Industry leaders take off

Daily trading volumes for MindMed have been practically off the charts, often in excess of 20 million shares (combined U.S. and Canadian trading).

Will MindMed rally another 743% over the next 11 weeks? Unlikely.

Traders take profits. This begs the question, where should these traders be rotating their MMED profits – as they look for the next multi-bagger opportunity in psychedelic stocks?

They could funnel profits into some of the other leaders that have also had big runs. But are those really the best value propositions at present?

Initially, this IPO-driven rally extended across the spectrum of psychedelic stocks. However, in recent weeks the pattern has changed. While a few public companies have generated big gains, most of the next tier of pubcos have been moving sideways.

Rotation opportunity

Have these smaller companies been standing still? Hardly. Case in point: Mind Cure Health (CAN: MCUR / US: MCURF).

Over just the past month, Mind Cure has:

And all those moves have come after Mind Cure had initially led the way in the Compass IPO rally, rising from its own IPO price of CAD$0.20 to CAD$0.70 in its first week of public trading.

Building a base. Or simply overlooked by investors?

Even more recently, on December 10th Mind Cure has announced that it is entering the psychedelics-assisted treatment market. The Company has acquired a mental health therapy clinic, located in Kelowna, British Columbia.

The clinic will offer both ketamine-assisted therapy (already legal in Canada) and psilocybin-assisted therapy -- through accessing Health Canada's Section 56 exemptions for psilocybin use.

Mind Cure sees this as the starting point for developing a network of psychedelic-assisted clinics in Canada.

CEO Kelsey Ramsden supplied further details.

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Disclosure: The writer holds shares in MindMed Inc, Numinus Wellness, and Mind Cure Health. Mind Cure Health is a paid client of Psychedelic Stock Watch.

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Corey Gaber 4 weeks ago Member's comment

Great article TalkMarkets $MMEDF has been a BANGER $VTGN

is Kim Jong gonna make everyone take PH10??!!!!