Was Jim Cramer Right About Mind Medicine (MNMD) Stock?

Back in 2024, on May 14, a caller brought up Mind Medicine (MindMed) Inc. (NASDAQ:MNMD), a biotech company focused on psychedelic treatments for mental health. Cramer said he was supportive back then, particularly of companies tackling pain and addiction:

“I like MindMed. I am a big believer in that, by the way. I’m in Vertex too. Anything, I’m into it, anything that makes it so that there’s ways to be able to get rid of pain and do good without getting people hooked, I am all in on. Does it necessarily mean it’ll make a lot of money? I don’t care. I think that people have to recognize this is an unmet need and it will make money in the end.”

Cramer’s optimism was not rewarded, as the stock dropped 22.97% despite his belief in its long-term potential.

Was Jim Cramer Right About Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)?

Mind Medicine Inc. (NASDAQ:MNMD) is a clinical-stage biotech firm developing psychedelic-inspired treatments for mental health and addiction disorders.

While we acknowledge the potential of MNMD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk.  If you are looking for an AI stock that is more promising than MNMD and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.