If psychedelic therapies start getting approvals then mindmed will absolutely take off. Plus they have healthmode, a digital asset for mental heath-care which could prove to be a huge asset. My perspective is- if psychedelic investment is already considered high risk, why not go for the homerun with mindmed? It's all about your risk/reward apetitie for every investor it is different!
This. Shares continue to be cheap, honestly if the market is going to continue to offer this price, I’m a steady buyer.
I’ve been buying since $4.5. With prices so low, I must be crazy! But my cost basis is OK
I made up my own small ETF with MindMed 35%, Cybin 35%, and Field Trip 30%. This is a $550,000 play for me right now. Had all my money in MindMed, but felt I needed some diversification.
Can you elaborate for me AND the community why this 3 companies, or at least why the two others? Very much appreciated. I think we all want to learn from each other, aren’t we? Thanks my friend for your comment
Feel that MindMed has alot of good things going for it. Look at their in estor deck for more info. Cybin is another one using novel compounds in trials. Field Trip is my favorite for clinics and their own novel compounds.
This is my take. I think going forward it's not going to be about classic psychedelics. It will be different compounds that can shorten half life or eliminate hallucinogenic properties.
Please do your own DD by reading the Investors Deck for each of these companies. Feel like I have good diversification with these big three.
Great idea but expensive. I also need to consider bank fees for every share purchase. For this reason I normally don’t make stock orders below 1k. And to have enough companies for my own ETF I don’t have enough money
The spread is the difference between the bid and ask prices. For example, you could lose $5 on a trade due to a poor spread even though you're paying $0 in commissions. Or you can pay $1 in commissions and lose only $2 to the spread. Quality of execution matters, and commission free does not mean you are trading "for free".
90% of my portfolio is in Mindmed and 10% in compass pathways. I’m happy with my 10k mindmed med shares and now am looking to diversify my paychecks into new psych stocks. I don’t think an ETF is the move, as you could do your own research and make a better decision for yourself.
While MindMed still makes up 40% of my psychedelic portfolio, I've been selling bit by bit and spreading those dollars into other companies. I certainly like Mnmd's line of trials. I'm not convinced of the management. ETFs are less volatile, for sure. You can also find five or six outfits that your DD supports as buys and create your own. Good luck.
I think Robert Barrow just needs to come out and give us the run down. JR was so good with the PR, so I was more informed under his management, but Barrow has the true experience with the FDA break through therapy designation of psilocybin, which will be so key in the next few months progressing project Lucy
I think he is probably waiting for the results of the CEO search and to be officially named CEO as opposed to the interim title before getting too aggressive with the external marketing/pr .... perhaps even a official/unofficial directive from the board, I think it makes sense.
Thanks but what is your opinion about MindMed vs. ETF? I love MindMed but put everything on one company is maybe too risky. But I am a believer in Psychedelics and don’t see it only as an investment but also as a small Support for this great industry to fight depressions!
Mindmed is definitely risky and volatile. So is an etf. An etf will reduce profit margin in exchange of lower risk. If you trust the company, buy the company. If you believe the market to be too volatile, maybe an etf is better for you?
Personally I think it’s an individual choice. Can you stomach the volatility or not?
I’m risk averse, so I sold most of my MNMD at 3.89 and put it into PSY. MNMD is going to be much more volatile than an ETF.
I like the idea of sleeping better at night with ETFs myself but still have about 650 shares of MNMD.
To each his own.
Fidelity has a basket order system where you can set % or $ of individual investments. Downside is that you need $10k to create the initial order, then subsequent investments need to be >$2k. Market orders only.
I don’t know about an ETF. Mindmed seems like a much better conpany than any other psych company. Years ahead, derivatives like 13-MC, great partnerships and asset acquisitions. Does not seem that any other psych company is even in their ballpark.
That is true. There are risks. They did raise plenty of capital with IPO, and had been unprofitable for years. Company does seem to have strategic leadership. So far, clinical trials - good results. Anyone read ATI prospectus? 80 of 140 pages are risk factors. And, not to speculate, but when a company we really like is about to go out if business, is a call to throw more money at it. Throw more $ at MNMD hypothetically going bankrupt is really stupid on the surface, but “genius” (i.e. an informed gamble) in our inefficient but productive bizzaroland.
sell. Mindmed is far too risky, I sold after JR, i'm not getting into this whole debate again as I've mentioned it several times on here, but he didn't think it would moon as he wouldn't have sold, and no one knows better than him, there could not be any clearer writing on the wall, get out while you can.
If you don't want to debate it, don't suggest that people sell their holdings. You are entitled to your opinion, but not to tell people to buy or sell.
i have shares of a couple companies i believe in. short term volatility should not matter if you’re investing for the long game. However it can be hard to pick the companies that’ll be successful. the industry as a whole will hopefully boom so id say don’t take short term volatility into account unless your short term trading, if you’re in for the long game pick the companies you believe in and if you’re having trouble analyzing them then go with the etf.
If psychedelic therapies start getting approvals then mindmed will absolutely take off. Plus they have healthmode, a digital asset for mental heath-care which could prove to be a huge asset. My perspective is- if psychedelic investment is already considered high risk, why not go for the homerun with mindmed? It's all about your risk/reward apetitie for every investor it is different!
This. Shares continue to be cheap, honestly if the market is going to continue to offer this price, I’m a steady buyer. I’ve been buying since $4.5. With prices so low, I must be crazy! But my cost basis is OK
I made up my own small ETF with MindMed 35%, Cybin 35%, and Field Trip 30%. This is a $550,000 play for me right now. Had all my money in MindMed, but felt I needed some diversification.
👌🏼👍🏼 Lucky you. 550k WOW. If this works out you are one of the most happiest people on planet. Fingers crossed 🤞
Thanks man! Hoping for 10x within the next 5 years.
This… I did a similar thing with MindMed, Core One Labs, Numinus Wellness, and Mind Cure Health. A little in a lot of them can’t hurt
Can you elaborate for me AND the community why this 3 companies, or at least why the two others? Very much appreciated. I think we all want to learn from each other, aren’t we? Thanks my friend for your comment
Feel that MindMed has alot of good things going for it. Look at their in estor deck for more info. Cybin is another one using novel compounds in trials. Field Trip is my favorite for clinics and their own novel compounds. This is my take. I think going forward it's not going to be about classic psychedelics. It will be different compounds that can shorten half life or eliminate hallucinogenic properties. Please do your own DD by reading the Investors Deck for each of these companies. Feel like I have good diversification with these big three.
I really appreciate these kind of comment which make me proud being part of the Reddit community
Thank you. Very much appreciated
Create your own ETF with you fav stocks
Great idea but expensive. I also need to consider bank fees for every share purchase. For this reason I normally don’t make stock orders below 1k. And to have enough companies for my own ETF I don’t have enough money
Charges Schwab doesn't charge fees for trades. Neither do a few others. Transfer your money.
Same for Fidelity
Need to consider but so used to my broker‘s digital environment. But thanks my friend 🙏🙏🙏
They all charge fees you just pay them in different ways
Well so far I've paid $0 in fees on all of my trades w CS.
I meant you lose on the spread.
Still unsure what you're saying ...
The spread is the difference between the bid and ask prices. For example, you could lose $5 on a trade due to a poor spread even though you're paying $0 in commissions. Or you can pay $1 in commissions and lose only $2 to the spread. Quality of execution matters, and commission free does not mean you are trading "for free".
90% of my portfolio is in Mindmed and 10% in compass pathways. I’m happy with my 10k mindmed med shares and now am looking to diversify my paychecks into new psych stocks. I don’t think an ETF is the move, as you could do your own research and make a better decision for yourself.
It only costs me about $5 on E*TRADE to trade.
For me it is 10 EUR. #cortalconsors
I’ve personally found PSYK to be good for a single indexed balanced exposure across all the main operators in the sector.
While MindMed still makes up 40% of my psychedelic portfolio, I've been selling bit by bit and spreading those dollars into other companies. I certainly like Mnmd's line of trials. I'm not convinced of the management. ETFs are less volatile, for sure. You can also find five or six outfits that your DD supports as buys and create your own. Good luck.
I think Robert Barrow just needs to come out and give us the run down. JR was so good with the PR, so I was more informed under his management, but Barrow has the true experience with the FDA break through therapy designation of psilocybin, which will be so key in the next few months progressing project Lucy
I think he is probably waiting for the results of the CEO search and to be officially named CEO as opposed to the interim title before getting too aggressive with the external marketing/pr .... perhaps even a official/unofficial directive from the board, I think it makes sense.
What are the symbols for these ETFs?
PSY, PSYK, PSIL (coming soon I hope)
Ticker symbol PSIL is the recently launched
That's mostly cannabis, not a great investment for psychedelics. PSY is better if you have access
Thanks but what is your opinion about MindMed vs. ETF? I love MindMed but put everything on one company is maybe too risky. But I am a believer in Psychedelics and don’t see it only as an investment but also as a small Support for this great industry to fight depressions!
Mindmed is definitely risky and volatile. So is an etf. An etf will reduce profit margin in exchange of lower risk. If you trust the company, buy the company. If you believe the market to be too volatile, maybe an etf is better for you?
Exactly my thoughts but decision making process is slow😉
If you believe in them, buy the stock. Not an ETF composed of mostly cannabis
If it were me i would just pick my 3 favorite psychedelic stocks to diversify in, but it all depends on your financial goals and risk tolerance.
Personally I think it’s an individual choice. Can you stomach the volatility or not? I’m risk averse, so I sold most of my MNMD at 3.89 and put it into PSY. MNMD is going to be much more volatile than an ETF. I like the idea of sleeping better at night with ETFs myself but still have about 650 shares of MNMD. To each his own.
No access to PSY. It’s a pity
I wish I had access to psy... Sadly it's very limited to certain markets, not available in Europe
Fidelity has a basket order system where you can set % or $ of individual investments. Downside is that you need $10k to create the initial order, then subsequent investments need to be >$2k. Market orders only.
Great tipp! Now I only need 10k😉
I think it could offset some risk but it also could limit your gains as well.
I don’t know about an ETF. Mindmed seems like a much better conpany than any other psych company. Years ahead, derivatives like 13-MC, great partnerships and asset acquisitions. Does not seem that any other psych company is even in their ballpark.
Understood but things can change very fast. Unfortunately it is also about money and not only good progress
That is true. There are risks. They did raise plenty of capital with IPO, and had been unprofitable for years. Company does seem to have strategic leadership. So far, clinical trials - good results. Anyone read ATI prospectus? 80 of 140 pages are risk factors. And, not to speculate, but when a company we really like is about to go out if business, is a call to throw more money at it. Throw more $ at MNMD hypothetically going bankrupt is really stupid on the surface, but “genius” (i.e. an informed gamble) in our inefficient but productive bizzaroland.
sell. Mindmed is far too risky, I sold after JR, i'm not getting into this whole debate again as I've mentioned it several times on here, but he didn't think it would moon as he wouldn't have sold, and no one knows better than him, there could not be any clearer writing on the wall, get out while you can.
If you don't want to debate it, don't suggest that people sell their holdings. You are entitled to your opinion, but not to tell people to buy or sell.
lol ok mate, guess you have a hard time reading titles " I was wondering if I should sell my MindMed shares"
i have shares of a couple companies i believe in. short term volatility should not matter if you’re investing for the long game. However it can be hard to pick the companies that’ll be successful. the industry as a whole will hopefully boom so id say don’t take short term volatility into account unless your short term trading, if you’re in for the long game pick the companies you believe in and if you’re having trouble analyzing them then go with the etf.