Psyched: Fed Study On Psychedelics, Janet Yellen's Magic Mushrooms, Financing Deals & Quarterly Reports
Portfolio Pulse from Lara Goldstein
A recent study by the Federal Reserve indicates that cannabis and psychedelics consumption has reached all-time highs in 2022, particularly among adults aged 35-50. In other news, COMPASS Pathways (NASDAQ:CMPS) has entered into a securities purchase agreement for an initial $125 million and a potential additional $160 million, while MindMed (NASDAQ:MNMD) has secured a $50 million senior secured credit facility with K2 HealthVentures. The AdvisorShares Psychedelics ETF (NYSE:PSIL) opened at $1.8 on August 14, slightly below prior openings.
August 21, 2023 | 2:55 pm
News sentiment analysis
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NEGATIVE IMPACT
The AdvisorShares Psychedelics ETF opened at $1.8 on August 14, slightly below prior openings, indicating a potential downward trend.
The lower opening price of the AdvisorShares Psychedelics ETF could indicate a potential downward trend in its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
COMPASS Pathways has secured a significant financing deal which could potentially boost its stock price.
The financing deal secured by COMPASS Pathways could provide the company with the necessary funds to expand its operations and increase its profitability, which could in turn boost its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
MindMed has secured a $50 million senior secured credit facility with K2 HealthVentures, which could potentially boost its stock price.
The credit facility secured by MindMed could provide the company with the necessary funds to expand its operations and increase its profitability, which could in turn boost its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100