Got $1,000? Consider This Freshly IPO'd Psychedelic Biotech
Mental illnesses are tough to treat, and modern medicine can't guarantee relief for many patients. New therapies derived from psychedelic compounds, however, are offering hope, not to mention a slew of opportunities for forward-thinking investors.
Since ATAI Life Sciences' (NASDAQ: ATAI) outsize initial public offering (IPO) on June 22, it's flush with an estimated $225 million in cash. And with a market cap of $2.81 billion, it's the largest of the biotechs focusing on making psychedelic therapies thus far. Importantly, Atai's telehealth-heavy approach to psychedelics is significantly different from its competitors'. So, if you're looking to invest $1,000 in a speculative but promising stock, I think Atai is a good option. Let's explore why.
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Source Fool.com
