and promote their safe medical use.
As an investor, my approach is quite simple. I always look for solutions and trends with the potential to solve vast problems for large amounts of people. Investors burned by bad bets on cannabis startups may be afraid to gamble on another class of DEA Schedule I substances, but they shouldn't be, and here's why.
The result? Most cannabis companies lost significant market capitalization as investors quickly realized that they had invested in a non-proprietary commodity best grown and harvested in warmer climates. Compass Pathways, backed by Facebook investor Peter Thiel and biotech investor Christian Angermayer, recently had a very successful IPO on the NASDAQ, jumping 71% on its first day of trading as it pursues a Phase 2 trial of psilocybin, the active ingredient of magic mushrooms, for depression.
As a developer of indexes and ETFs I always want a diverse portfolio because either these investments are going to be wildly successful or they are going to zero and nobody knows which horse is going to win the psychedelic medicine race.
kevinolearytv thank you very much for your work