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Why Compass Pathways Is Soaring Today

TheMotleyFool

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Last Friday, U.K.-based Compass Pathways (NASDAQ: CMPS) became the first psychedelic medicine company to go public on a major U.S. exchange. The drugmaker's shares promptly rose by an eye-catching 70.5% during their first day of trading on the Nasdaq stock exchange.

Compass' upward momentum, following this historic public debut, appears set to continue today, with the drugmaker's shares up by 10.8% in pre-market action Monday morning. Compass' market cap has thus swelled to over $1.1 billion, making it the most valuable psychedelic medicine company in the world.

Image source: Getty Images.

Source Fool.com

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