Mushroom Penny Stocks To Watch After Latest 'Bloom Chip' IPO (2024)

Shroom Stocks Take Center Stage After Latest IPO

There’s a new breed of penny stocks you might’ve not heard of recently. It’s called psychedelic stocks. You might’ve also heard about shroom or mushroom stocks. But now we’ve got the next phase, potential.

That’s all thanks to a recent IPO backed by Paypal founder Peter Thiel. A few weeks ago we started discussing the now public Compass Pathways PLC (CMPS Stock Report). The article, “Top Mushroom Penny Stocks To Watch In September 2020,” was all about what to look for ahead of this major IPO.

For the most part, psychedelic penny stocks have been inaccessible by the Robinhood community. Most of these companies either trade on the Canadian exchange or are dually listed with an OTC stock ticker. This month, however, we might have seen the first indication of “Bloom Chip Stocks” or what I will call the Blue Chips of psychedelics.

Compass has now brought access to the segment, and with that, a means to become familiar with the potential in front of investors right now. It’s still very early in the evolution and some compare it to the early days of cannabis.

Fly-by-night names have certainly had their place early on. But now traders and investors are looking for ways to sink their teeth in a bit deeper. One of the main ideas behind this initiative is to tap into opioid-free treatment methods for addressing neurological illnesses.

Still Early For Psychedelic Penny Stocks

Despite this latest Bloom Chip Stock IPO, there’s likely still a long road ahead for psychedelic stocks in general. That’s not necessarily a bad thing either. It’s mixed the medical attributes addressing neurological diseases while also beginning to fold in somewhat of a recreational component. It isn’t just the psychoactive compound either. Companies are now aiming their sites at health & wellness too.

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Psychedelic Penny Stock To Watch: New Wave Holdings

New Wave Holdings (SPOR Stock Report) (TRMNF), for instance, works with functioning mushroom product lines. It developed an IP portfolio focusing on psilocybin, LSD, MDMA, and ketamine derived treatments for neuropsychiatric diseases. New Wave’s Anahit Natural Health brand is developing a product portfolio to include healthcare and customized products that incorporate legal functioning mushrooms as well as conducting R&D initiatives. Last week, the company completed the acquisition of an additional 25% interest in Anahit Therapeutics Ltd.

New Wave also owns two active farms for mushroom cultivation in Jamaica, which hosts on-site processing facilities. This includes its 5-acre property, High Grade Farms, and MedzUp, a 17-acre property. This is in addition to New Wave’s continued efforts in tapping into its psychedelic medical research portfolio.

New Wave continues building upon its leadership. Earlier this month, the company appointed Daniel Fox as Chief Executive Officer. Furthermore, its expanding its scientific advisory board to expedite development. Late last month, the company appointed Dr. Wade Davis to its Psychedelic Research Advisory Board. This came just a few months after appointing Dr. Dennis McKenna to the Psychedelic board. This Board will evaluate the potential positive effects its medicinal mushroom formulations could have on individuals suffering from things like anxiety/depression and Post Traumatic Stress Disorder (PTSD), bereavement and emotional disturbances as well as stress and substance abuse disorders.

Psychedelic Penny Stocks To Watch: Numinus Wellness Inc.

Numinus Wellness Inc. (NUMI Stock Report) (LKYSF) saw a huge opening day when it IPOd earlier this year. While that broke the ice in the market, it ended up also breaking down in price during the weeks to follow. However, the recent attention stemming from this new Bloom Chip Stock idea has NUMI back in action. Over the last few days, shares have climbed from C$0.24 last Thursday to highs of C$0.32 on Monday. Daily volume levels have also increased during that period.

This move came shortly after Numinus’ update last week. The company announced it had begun cultivating Psilocybe mushrooms, for the purpose of psilocybin production. The cultivation is being done at its 7000 square-foot Health Canada licensed facility. Psilocybin-assisted psychotherapy is currently being studied as a treatment for a range of mental health conditions including depression, anxiety, and substance use disorders.

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Payton Nyquvest , Founder, CEO, and Board Chair commented, “We are progressing on our mission right now by creating the infrastructure and advancing evidence-based research to support routine clinical use in the health care system. We have the infrastructure, licenses, resources, and expertise to help hasten evidence-based accessibility to these treatments so we can, ultimately, help people heal and be well.”

Psychedelic Penny Stocks To Watch: Mind Cure Health Inc.

Mind Cure Health Inc. (MCUR Stock Report) has just recently begun trading on the CSE this month. the company focuses, of course, on mental health and wellness utilizing nootropics and psychoactive products. Nootropics, are, of course, drugs, supplements, and other substances that may improve cognitive function. In light of this, Mind Cure is now the new kid on the psychedelic block. While it isn’t necessarily a Bloom Chip stock like Compass, it has some high hopes for the future.

In its going public PR, Philip Tapley, Chairman, President, and CEO stated, “This is a significant event in the Company’s history and we are looking forward to expeditiously build our senior operational and product management team, enhance and accelerate our marketing plan, and expedite our efforts to identify and evaluate new potential product candidates in addition to our Moonbeam Mushrooms product line.”

The Moonbeam brand is designed around similar ideas as general health supplements. The company has a “Focus,” “Energy,” and “Immunity”. But one thing you can see is that Mind Cure is still in its infancy. All over the site, the company makes reference to evaluating different prospects. So it’s yet to be seen what could transpire in the near term. Needless to say, MCUR stock has received a warm welcome from traders this month. Since its public debut, shares have climbed by more than 100% thus far.

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