Why Mind Medicine Gave Investors a Powerful Buzz in May
Mind Medicine (NASDAQ: MNMD), a healthcare company that's looking to develop treatments based on psychedelic compounds, was something of a sleeper stock in May. Several positive developments pushed the highly specialized enterprise's share price higher, to the point where it closed the month up almost 14% in price. The main driver of this gain was a small step forward in the decriminalization of psilocybin. That's the psychoactive compound that Mind Medicine -- or MindMed, as it's known for short -- is aiming to develop into substances that can help treat certain psychological disorders. Image source: Getty Images.Continue reading
Mind Medicine (NASDAQ: MNMD), a healthcare company that's looking to develop treatments based on psychedelic compounds, was something of a sleeper stock in May. Several positive developments pushed the highly specialized enterprise's share price higher, to the point where it closed the month up almost 14% in price.
The main driver of this gain was a small step forward in the decriminalization of psilocybin. That's the psychoactive compound that Mind Medicine -- or MindMed, as it's known for short -- is aiming to develop into substances that can help treat certain psychological disorders.
Image source: Getty Images.
