Psychedelic Spotlight reports
Despite Core One Labs’ financial problems, the thesis for investing in psychedelic stocks has not changed, and we should expect to see more companies fold before psychedelic medicine ultimately succeeds.
A second domino is falling in the world of psychedelic stock investing.
Last week, Psychedelic Spotlight reported that Mind Cure Health (CSE: MCUR) (OTCQX: MCURF) was halting its psychedelic medicines research, following a “strategic review” undertaken by the company.
In short, they ran out of money.
As I have stated repeatedly, running a psychedelic research company is ridiculously expensive, and many smaller companies with low market caps and little money in the bank will find it hard to survive in a market context of low stock prices.
At the time, I speculated that “we shouldn’t be surprised if this is just the first domino,” and unfortunately, it didn’t take much time for the prophecy to be realized.
Read full article. https://psychedelicspotlight.com/another-psychedelics-company-core-one-labs-is-crashing-is-industry-in-trouble/
