Billionaire Steve Cohen Buys 19M Shares Of Cybin Stock For Psychedelics R&D, Blake Mycoskie $100M Pledge
Portfolio Pulse from Lara Goldstein
Billionaire Steve Cohen has invested nearly $19 million in Cybin Inc. (NYSE:CYBN) through his Point72 asset management firm, which now owns over 8% of Cybin's stock. This is Point72's first public position in a psychedelics company. In other news, billionaire Blake Mycoskie has updated on his $100 million pledge for psychedelics research, stating that he has already donated $11 million, including investments in MindMed (NASDAQ: MNMD), atai Life Sciences (NASDAQ:ATAI), and MAPS PBC.
September 18, 2023 | 7:10 pm
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POSITIVE IMPACT
Blake Mycoskie's investment in atai Life Sciences as part of his $100 million pledge for psychedelics research could positively impact the company's stock price.
Blake Mycoskie's investment could increase investor confidence in atai Life Sciences, potentially leading to a rise in its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Steve Cohen's investment in Cybin Inc. could boost the company's credibility and stock price.
The investment from a high-profile investor like Steve Cohen could increase investor confidence in Cybin Inc., potentially leading to a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Blake Mycoskie's investment in MindMed as part of his $100 million pledge for psychedelics research could positively impact the company's stock price.
Blake Mycoskie's investment could increase investor confidence in MindMed, potentially leading to a rise in its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80