Psychedelics based medicine developer Mind Medicine (NASDAQ:MNMD) was in focus among investors this past week and managed to deliver gains of as much as 20% through the week.
That said, it is also necessary to point out that there was actually no news about the company that could have led to such gains. The company is one of the most notable players in the psychedelics based medicine industry and despite the recent gains, it should be noted that most experts regard Mind Medicine as a speculative play.
The products Mind Medicine is working on are products that are meant for helping people in giving up addictions. However, it is necessary to note that it is still not known if psychedelics based medicines are going to be popular among people who are trying to give up addictions. Hence, the speculative nature of the stock becomes clear. Recently, the stock was listed on NASDAQ and it is going to be interesting to see if it has a sustained positive effect on the stock or not.
Moving Averages
| +/- EMA(20) | 3.44 (+13.95%) |
| +/- SMA(50) | 3.19 (+22.88%) |
| +/- SMA(200) | 2.34 (+67.52%) |
Key Performances
| 5-DAY PERF. | +22.88% |
| 1-MONTH PERF. | +27.27% |
| 3-MONTH PERF. | +40.50% |
| 6-MONTH PERF. | +8.89% |
| YTD PERF. | +28.52% |
| 1-YEAR PERF. | +1164.52% |
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