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How to buy InMed Pharmaceuticals (INM) stock when it goes public

Here's everything we know so far about the InMed Pharmaceuticals IPO.

Dawn Daniels
Dawn Daniels

Posted

Fact checked

InMed Pharmaceuticals stock is currently available on the Toronto Stock Exchange and as an OTC stock. But a lot of popular US brokerages, like Robinhood, don't offer access to international or OTC stocks.

InMed is planning an IPO on the Nasdaq, which will make it easy to purchase from any popular US brokerage. Here's how to buy in.

What we know about the InMed Pharmaceuticals IPO

InMed Pharmaceuticals filed a draft registration with the US Securities and Exchange Commission under the ticker symbol INM. Not yet an official IPO, it's one of the first steps of taking a private company public.

There's no news yet about how much the stock will cost when it goes public. No date has been set for when the stock will be publicly available. The shares will be available on the Nasdaq Capital Market.

How to buy shares in InMed Pharmaceuticals when it goes public

Once InMed Pharmaceuticals goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.

  1. Compare share trading platforms. If you're a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
  2. Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  3. Search for InMed Pharmaceuticals. Find the stock by name or ticker symbol: INM. Research its history to confirm it's a solid investment against your financial goals.
  4. Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until InMed Pharmaceuticals reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market's ups and downs. You may be able to buy a fractional share of InMed Pharmaceuticals, depending on your broker.
  6. Check in on your investment. Congratulations, you own a part of InMed Pharmaceuticals. Optimize your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

How do similar companies perform?

It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like InMed Pharmaceuticals can be useful in determining how the market is performing and whether now is a good time to invest in this industry. Select a company to learn more about what they do and how their stock performs, including market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.

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The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

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