Psyched: NDAA Amendments Blocked, National Practitioners Network, Marijuana In Jackie Kennedy's Garden And More
Portfolio Pulse from Lara Goldstein
The House Rules Committee blocked all drug policy amendments to the National Defense Authorization Act (NDAA), preventing them from advancing to a floor vote. The American Psychedelic Practitioners Association (APPA) is working to legitimize the field of psychedelics. Bright Minds (NASDAQ:DRUG) consolidated its shares 5:1 to remain Nasdaq-listed, Lucy Scientific (NASDAQ:LSDI) appointed a new CEO, Tryp Therapeutics (OTC:TRYPF) received FDA approval for its Phase 2 psilocybin trial, and AdvisorShares Psychedelics ETF (NYSE:PSIL) maintained its opening price from the previous week.
July 19, 2023 | 10:43 pm
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POSITIVE IMPACT
Lucy Scientific has appointed a new CEO.
The appointment of a new CEO can potentially lead to positive changes in the company's strategy and operations, which could positively impact the stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Tryp Therapeutics received FDA approval for its Phase 2 psilocybin trial.
FDA approval for a trial is a positive development for a pharmaceutical company, which could lead to an increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
NEUTRAL IMPACT
Bright Minds consolidated its shares 5:1 to remain listed on Nasdaq.
Share consolidation can be a neutral event for investors as it does not change the company's market cap.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
AdvisorShares Psychedelics ETF maintained its opening price from the previous week.
The ETF's price stability indicates a neutral market sentiment towards the sector it represents.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60