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Early investors in cannabis stocks generated unbelievable returns in 2017. The legalization of a popular substance for medical and recreational use unleashed a multi-billion-dollar industry. Now, a similar wave could engulf the magic mushroom or psychedelics sector.
Here’s a closer look at the promise of this emerging industry and the stocks that should be on your radar as this research progresses.
Magic mushroom research
Of the 14,000 different species of mushrooms, only a tiny fraction (200 or so) contain a substance known as psilocybin. It’s an active ingredient that causes hallucinations and intoxication. It’s also the base chemical for several “party drugs” such as LSD and MDMA (also known as ecstasy).
Cybin Included in First Psychedelic Exchange Traded Fund
Horizons Psychedelic Stock Index ETF Index now trading on the NEO Exchange – Not for distribution to the U.S. news wire services or dissemination in the United States Cybin Inc. a biotechnology company focused on progressing psychedelic therapeutics, today announced that it is among the select companies in the U.S. and Canada to be included in the world’s first exchange-traded fund for psychedelic drug …
Horizons Psychedelic Stock Index ETF Index now trading on the NEO Exchange – Not for distribution to the U.S. news wire services or dissemination in the United States
Horizons Psychedelic Stock Index ETF is now listed on Toronto’s NEO exchange under the symbol ‘PSYK.’
PSYK is the first exchange traded fund providing exposure to the burgeoning industry of medicinal psychedelics.
The ETF is managed by
Horizons ETFs Management, a Canadian ETF firm that’s part of the portfolio of Mirae Assets. In 2017, Horizons released the
Marijuana Life Sciences Index ETF (TSX:HMMJ), cannabis’ longest running ETF. PSYK will give investors exposure to the leading public companies undertaking this important research and development of treatments for the more than 700 million people globally that, according to the World Health Organization, suffer from some sort of mental illness, addiction or eating disorder, Horizons ETFs CEO Steve Hawkins said.
Psychedelic-therapeutic solutions ETF launching benefitscanada.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benefitscanada.com Daily Mail and Mail on Sunday newspapers.
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