by Fred Fuld III
It was one year ago at the San Francisco MoneyShow that I gave a speech called Stocks of Leading Future Industries. In that presentation on August 16, 2019, I covered seven leading industries, plus one bonus industry.
The bonus industry was Legalized Hallucinogenic Drugs, primarily the legalization of psilocybin and the industry around its use for therapeutic purposes.
First Public Psilocybin Stock
At that time, there was only one publicly traded stock involved in researching psilocybin, Wuhan General (WUHN), which had a division, M2BIO, that was exploring the medical use of psilocybin for treatments of various conditions.
I didn’t recommend the stock during the speech, (I never make any recommendations, I only come up with suggestions for you to research), but I did say that one of these days, this stock will start to move up, other psilocybin companies will go public, and these stocks could take off just like the cannabis stocks did in the past. I told the audience to watch this stock and the industry. You can see my speech below. The section on the psilocybin and psychedelic pharmaceutical industry is at the 25 minute mark.
If you want to see a pdf of the slides from the presentation, you can go HERE.
The Alert About Psychedelic Stocks
So why was it important to keep an eye on this stock? From November 20, 2019 to May 20, 2020, the stock traded between 2 cents a share to 4 cents a share. The next day, the stock almost doubled to 7 cents a share. It then traded at 8 cents a share for a couple days, and jumped by 50% to 12 cents a share the next day. After that, it really started to move.
So there were exactly six months that you could have picked up the stock for, let’s say, 3 cents a share, halfway between the trading range. The stock closed at 33 cents on Friday (actually 32.75 cents but I rounded to make the calculation easier).
This works out to a 1,000% profit on Wuhan. In other words, if you had invested $5,000 at 3 cents per share, the shareholdings would now be worth $50,000. Actually the stock has even traded above 42 cents since May.
The movement of the shares should have been an alert to investors and traders.
Why the Potential for the Psychedelic Drug Industry
In my presentation, I discussed how extensive research is being done with health treatment studies on the use of psilocybin to treat:
Is There a Precedent for Using Hallucinogenic Drugs Medically?
What’s Happening Now with Psychedelic Drugs and Stocks
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