Why Mind Medicine Zoomed 8% Higher on Tuesday
A tweet from a U.S. senator was the motor driving Mind Medicine (NASDAQ: MNMD) stock up at near double-digit rates on Tuesday. Although the tweet didn't mention the company by name, it did strongly support the work it is doing, and investors were more than cheered by the move.
The politician in question is Cory Booker, Democrat from New Jersey. Monday afternoon, Booker published a tweet accompanied by a video in which he passionately defended current research into psychedelic drugs. Specifically he named psilocybin and MDMA, both of which are currently illegal at the federal level.
Mind Medicine, also known as MindMed, has research programs involving the study of substances in both drugs. As the senator pointed out in the text portion of his tweet, these are showing promise in the treatment of afflictions such as post-traumatic stress disorder, addiction, and depression.
Source Fool.com
