Mind Medicine (MMEDF) Takes a Hit From The Peak: A Serious Correction?

Over the course of the past year or so, the psychedelics-based medicine space has come into sharp focus among investors and one of the companies to have garnered significant attention is Mind Medicine (MindMed) (OTC: MMEDF).

Recently, the psychedelic-based medicine biotech company touched its highest levels in 52 weeks. However, since touching those levels, the stock has been on a downward spiral and corrected by as big as 50%. Although the stock has corrected sharply, it could also prove to be a buying opportunity for new investors.

Earlier this week, the company also made a key announcement that investors could take a look at. The company announced that the MindMed stock had been added to the FTSE Global Micro-Cap Index as well as the FTSE Total-Cap index. It is a significant development for MindMed since the first index makes up as huge as $1.3 trillion in global market cap, while the same figure for the latter index is $54.7 trillion. Investors could actually consider adding the stock to their watch lists for the coming weeks.

Jack Dawkins

Finance and Tech Contributor

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