Canadian Money Forum banner
1 - 9 of 9 Posts

·
Registered
Joined
·
9 Posts
Discussion Starter · #1 ·
What are everyone’s thoughts on shroom stocks? This definitely seems like a market disrupter and an industry that can change our medical field forever (and for the better). It’s interesting to see how psilocybin is being used to treat mental illnesses such as anxiety, depression, PTSD, etc. Obviously it will take time with clinical trials, legislation and public perception but planting the seed now.

Anyone in them?

Particularly looking at MNMD, NUMI - industry leaders.
 

·
Registered
Joined
·
2,641 Posts
What are everyone’s thoughts on shroom stocks? This definitely seems like a market disrupter and an industry that can change our medical field forever (and for the better). It’s interesting to see how psilocybin is being used to treat mental illnesses such as anxiety, depression, PTSD, etc. Obviously it will take time with clinical trials, legislation and public perception but planting the seed now.

Anyone in them?

Particularly looking at MNMD, NUMI - industry leaders.
My son has PSYK. ETF. Down about 50% since launch. Lol.
 

·
Registered
Joined
·
3,246 Posts
Mindmed was at $2B company last year. With no revenue. Down 75%, it's still a half billion dollar company, although it does have some cash. This should be treated like a mini-cannabis sector, in my opinion, you have the roadmap. And lots of warnings signs - look how they flushed money down the toilet. A new industry is no guarantee of making money, and despite there being a niche market for this type of product, it is not going to be mainstream anytime soon. Cannabis companies planted billions of seeds with much of the same promise with a far larger market and it still turned out poorly. If one of these companies did succeed, what is to stop everyone else from dumping money and competing, just like cannabis? Ugh. There is always the chance someone discovers some specific technique with medical purpose, but then your market could be smaller, just like cannabis. If it is mass market schrooms, that is more commodity based like cannabis.

Note I did make a pile of cash trading cannabis before it was legal (2017) on pure speculation and to take advantage of the greed. I haven't been back in since and I start from a position of doubt about whether schrooms are going to have the same hype. The hurdles are going to be as high or higher than cannabis.
 

·
Registered
Joined
·
267 Posts
Personally I am going to stay away from shroom stocks until they have matured a bit more as businesses. I feel like they may go through the same cycles as marijuana stocks have. Will look at them again maybe in 5 years.
 

·
Registered
Joined
·
9,649 Posts
Personally I am going to stay away from shroom stocks until they have matured a bit more as businesses. I feel like they may go through the same cycles as marijuana stocks have. Will look at them again maybe in 5 years.
I'm staying away I think they're the same.
IMO once you take out the "illegal product' premium and they're a really basic commodity, not much room for profit.

Also the value as a treatment with psilocybin is the psychological support to go with it, I don't think they're likely to release it as a recreational drug.
As a recreational drug, the economic value is even lower.
Chronic potheads are a thing, chronic shroomheads not so much.

Also shrooms are REALLY easy to grow, bit of sterile dirt and a few spores.


Maybe there is money here, but I think it's mostly riding the bubble from people who think "drugs are cool".
 

·
Registered
Joined
·
1,798 Posts
Also shrooms are REALLY easy to grow, bit of sterile dirt and a few spores.
Indeed, and a little bit goes a very long way. My friend grew his own in his closet and has enough for over a year's worth of casual use from a couple weeks growth. Grow kits and spores are legal to buy in Canada.
 
1 - 9 of 9 Posts
Top