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For many investors, the experimental psychedelics industry may be too risky to invest in. Most companies in this sector are privately held, and psychedelic stocks are often volatile penny or OTC stocks.
Aside from being risky, these stocks can also be difficult to purchase. Most stocks will require you to have a brokerage account that offers access to OTC and international stocks, like Interactive Brokers or TradeStation.For investors willing to take the risk, the best psychedelic stocks depend on your portfolio and investment goals — while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.
6 popular psychedelic stocks to watch
We round up a selection of stocks in or related to the experimental drug industry, weighting the list more heavily towards popular mid- and large-cap stocks.
| Best stock | 1-year return | Market cap | Exchange | Volume | Buy now on CIBC Investor's Edge |
|---|---|---|---|---|---|
| Compass Pathways Plc (CMPS.US) | (data unavailable) | $532.9 million (USD) | NASDAQ | (data unavailable) | Buy now |
| Mind Medicine MindMed (MMEDF.US) | (data unavailable) | $940.5 million (USD) | OTCQB | (data unavailable) | Buy now |
| N/A (NUMI.V) | (data unavailable) | (data unavailable) | N/A | (data unavailable) | Buy now |
| Mindset Pharma (MSET.CN) | (data unavailable) | $72.9 million (CAD) | Canadian Securities Exchange | (data unavailable) | Buy now |
| Cybin (CLXPF.US) | (data unavailable) | $475.5 million (USD) | OTCQB | (data unavailable) | Buy now |
| Field Trip Health (FTRP.CN) | (data unavailable) | $210.8 million (CAD) | Canadian Securities Exchange | (data unavailable) | Buy now |
What to look for when investing in psychedelic stock
The experimental drug industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering psychedelic stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.
Also keep in mind that, while volatility can be ideal for day traders, long-term investors will want to look for stocks to offer steadier gains over time.
How to invest in psychedelic stock
- Research the experimental drug industry. Before investing, learn about the psychedelic stock sector, its trends and the companies within it. Look at each company's financial health, potential for growth and past performance to identify stocks that fit your investment goals.
- Choose a stock trading platform. Compare trading fees, access to trading tools and user interface options. We've identified reliable trading platforms to help narrow down your options below or check out the best stock trading apps in Canada to find one that suits your needs.
- Open and fund your account. Sign up with your personal details and link a bank account or funding method to deposit money before you start trading.
- Select the psychedelic stock(s) to buy. Search by company name or ticker symbol, like CMPS or MMEDF. Compare key metrics such as market cap, price history and earnings per share to pick the best stock for your strategy.
- Buy the stock and monitor performance. Place your order to buy the stock and track its performance over time. Consider setting alerts, signing up for industry newsletters or using platform research tools to stay up to date on market changes.
Our top picks for where to buy psychedelic stocks
Low margin rates
- Access to international stock exchanges
- Low margin rates
- Powerful research tools
Are psychedelic stocks a good investment?
While it's possible to turn a profit investing in psychedelic stocks, keep in mind that—like any investment—psychedelic stocks are not immune to risk. These stocks are subject to fluctuating conditions both in the market and in the experimental drug industry, so carefully vet your picks before you invest.What are the best psychedelic stocks?
A lot of factors go into picking the best psychedelic stocks. Stock performance can be impacted by factors like market conditions, company decisions and global events. Plus, what may be a strong psychedelic stock investment for one person might not be suitable for another.
That said, we rounded up this list of popular psychedelic stocks in or related to the experimental drug industry to help narrow down your options:
- Compass Pathways Plc (CMPS)
- Mind Medicine MindMed (MMEDF)
- N/A (N/A)
- Mindset Pharma (MSET)
- Cybin (CLXPF)
- Field Trip Health (FTRP)
Keep in mind that this is not a "best" list or a recommendation. It highlights some psychedelic stocks for informational purposes only and does not indicate past or future performance or investment advice. We do not guarantee any investment performance.
We've outlined detailed company and stock performance details for each psychedelic stock below. Keep reading to decide if any of these companies are the right investment for you.
Compass Pathways Plc (CMPS)
COMPASS Pathways plc operates as a biotechnology company that focuses on mental health in the United Kingdom and the United States. It develops COMP360, a psilocybin therapy, which is in Phase III clinical trial for the treatment of treatment-resistant depression; and is in Phase II clinical trial for treating post-traumatic stress disorder and anorexia nervosa. The company was formerly known as COMPASS Rx Limited and changed its name to COMPASS Pathways plc in August 2020.
| Market Capitalization | $532.9 million |
|---|---|
| Earnings per share (TTM) | -$2.72 |
| 52-week stock price range | $2.25 – $7.09 |
Mind Medicine MindMed (MMEDF)
Mind Medicine (MindMed) Inc. , a psychedelic medicine biotech company, discovers, develops, and deploys psychedelic inspired medicines and therapies to address addiction and mental illness. The company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances, including Psilocybin, LSD, MDMA, DMT, and an Ibogaine derivative, 18-MC.
| Market Capitalization | $940.5 million |
|---|
N/A (N/A)
N/A. . .
Mindset Pharma (MSET)
Mindset Pharma Inc. develops and sells psychedelic medicines to treat neurological and psychiatric disorders in Canada. It focuses on developing MSP-1014, a psychedelic drug candidate.
| Market Capitalization | C$72.9 million |
|---|---|
| Gross profit (TTM) | C$3.9 million |
| Profit margin | -78.82% |
| Revenue (TTM) | C$7.8 million |
| Earnings per share (TTM) | -C$0.06 |
Cybin (CLXPF)
Cybin Inc. , a biotechnology company, focuses on developing psychedelic therapeutics to treat various psychiatric and neurological conditions. The company operates through two segments, Serenity Life and Cybin U.
| Market Capitalization | $475.5 million |
|---|---|
| Gross profit (TTM) | $-311,000 |
| Revenue (TTM) | $864,000 |
| Earnings per share (TTM) | -$0.26 |
Field Trip Health (FTRP)
Field Trip Health Ltd. engages in the development and delivery of psychedelic therapies. Its Research division is involved in the development of psychedelic molecules and conducting research on plant-based psychedelics.
| Market Capitalization | C$210.8 million |
|---|---|
| Gross profit (TTM) | C$-8,403 |
| Revenue (TTM) | C$435,460 |
Compare trading platforms to buy psychedelic stock
Compare special offers, low fees and a wide range of investment options among popular trading platforms in Canada. Note that the dollar amounts in the table below are in CAD.
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Finder Score for stock trading platforms
To make comparing even easier we came up with the Finder Score. Trading costs, account fees and features across 10+ stock trading platforms and apps are all weighted and scaled to produce a score out of 10. The higher the score, the better the platform—it's that simple.
Bottom line
If you're considering adding psychedelic stocks to your portfolio, make sure you thoroughly look into any companies before investing to help mitigate risk. We've compiled a list of psychedelic stocks to help narrow down your options. Then choose a legitimate stock trading platform to start investing. After that it comes down to monitoring the experimental drug industry to know when to buy, sell or hold.
Related: How to buy stocks in Canada
Frequently asked questions about psychedelic stocks
Sources
Check these other commodities and investment sectors
If you're thinking about diversifying your portfolio and investing in sectors beyond psychedelic stocks, here are some others you can consider:
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Important information: Powered by Finder.com. This information is general in nature and is no substitute for professional advice. It does not take into account your personal situation. This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for most investors. You do not own or have any interest in the underlying asset. Capital is at risk, including the risk of losing more than the amount originally put in, market volatility and liquidity risks. Past performance is no guarantee of future results. Tax on profits may apply. Consider the Product Disclosure Statement and Target Market Determination for the product on the provider's website. Consider your own circumstances, including whether you can afford to take the high risk of losing your money and possess the relevant experience and knowledge. We recommend that you obtain independent advice from a suitably licensed financial advisor before making any trades.
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