I have recently discovered a new sector of speculative investing. Psychedelic Pharmaceuticals are beginning to see investor interest after MMED a few others in the sector went public. I highly suggest everyone to DYOR to formulate your own decision on the sector/company. In my opinion, I believe we will be ranging in price for next couple of months to a year while their clinical trials are still being completed. Hence why I believe the price is currently slightly overextended (short term). Once clinical trials begin coming to an end I suspect the price will increase dramatically in anticipation of the results. This is ultimately the "do or die" moment because it will prove whether these compounds are safe AND effective. If they are, we will most likely see FDA approval like in the case of Ketamine. If things go well, we could see partnerships begin to happen quickly in order to mass-produce this new revolutionary medicine. This would make MMEDF a multi-billion dollar company. Right now it is just a waiting game, the general outlook is anywhere between 2-3 years. Personally, I will be accumulating at these ranges.
I hope you all appreciated my FA and short-term TA on MMEDF. If you are interested in learning more about companies within this sector let me know. I am already working on an analysis for SHRMF another company in the sector working on primarily psilocybin therapy along with a few others.
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I would throw LKYSF in the mix too. It has a higher market cap than MMEDF right now. However, it is not getting the trading volume it needs. For that reason, I sold some off to buy the potential breakout in MMEDF, given it's volume and potential uplisting to the Nasdaq
sbismil
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I'm long as well, bought some. Hoping for positive outcomes from trials.