Psychedelics are rising as brand-new investment asset class as Oregon decriminalizes drugs

Earlier this month, Oregon became the first state to legalize the use of psilocybin for medicinal purposes through Measure 109, and decriminalized the use of all drugs with Measure 110.
Since the Measures passed in November, MindMed shares (MMED.NE) has soared 70%, last trading at $1.55.
The legalization of psilocybin reflects the rising popularity of therapeutic drug use at a time when mental health issues are on the rise due to COVID-19.
"This isn't just specific to the state of Oregon. 40% of Americans in the midst of COVID-19 had a mental health incident and substance abuse problem. 11% of Americans considered suicide," said JR Rahn, founder and co-CEO of MindMed. (show less)

Earlier this month, Oregon became the first state to legalize the use of psilocybin for medicinal purposes through Measure 109, and decriminalized the use of all drugs with Measure 110.
Since the Measures passed in November, MindMed shares (MMED.NE) has soared 70%, last trading at $1.55.
The legalization of psilocybin reflects the rising popularity of therapeutic drug use at a time when mental health issues are on the rise due to COVID-19.
"This isn't ... (read more)

Market Analysis

Market Analysis
The Kitco News team speaks to analysts and experts on the frontlines of the market to get the most up-to-date news on the economy. The show offers a well-rounded, timely view on big market moves and any major headlines that may affect financial assets. Coined – no pun intended – as the number one source of precious metals news, Kitco News is the leading provider of up-to-date price action in the precious metals space.

Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.