5 Best Psychedelic Stocks to Buy Now

4. Mind Medicine (MindMed) Inc. (NASDAQ: MNMD)

Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) is placed fourth on our list of 10 best psychedelic stocks to buy now. The company’s shares have returned 19% to investors over the past twelve months. The firm is a New York-based biopharma company working on psychedelic medicines. It has a market capitalization of over $1.2 billion. The short interest on the stock is 1.14% and the share price touched a 52-week high of $5.77 in May. 

On July 8, Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) announced that it had teamed up with Datavant, a health information technology company, to link clinical trial data to external data. The move is part of a plan to build broad and detailed datasets for further use. 

In late June, Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) was included in the FTSE Russell 3000 Index. The inclusion came just two months after the firm was listed on the NASDAQ exchange in the United States.