LSD, Ecstasy Lure Traders Betting on ‘Psychedelic Renaissance’
- MindMed up 160% in 2024 on promise of LSD anxiety treatment
- FDA decision on first MDMA-assisted therapy expected in August
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For years, investors that poured money into psychedelic stocks have wagered that their breakout moment — and the eye-watering returns that would quickly follow — were just around the corner. And year after year it’s been, by-and-large, a losing bet.
Now, three months into 2024, investors are once again piling in.