Psychedelic stocks

For many investors, the experimental psychedelics industry may be too risky to invest in. Most companies in this sector are privately held, and psychedelic stocks are often volatile penny or OTC stocks.

Aside from being risky, these stocks can also be difficult to purchase. Most stocks will require you to have a brokerage account that offers access to OTC and international stocks, like Interactive Brokers or TradeStation.

For investors willing to take the risk, the best psychedelic stocks depend on your portfolio and investment goals — while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.

6 popular psychedelic stocks to watch

We round up a selection of stocks in or related to the experimental drug industry, weighting the list more heavily towards popular mid- and large-cap stocks.

1. Compass Pathways Plc (CMPS)
2. Mind Medicine MindMed (MMEDF)
3. Numinus Wellness (NUMI)
4. Mindset Pharma (MSET)
5. Cybin (CLXPF)
6. Field Trip Health (FTRP)

Compare investment accounts that help you research stocks

The psychedelic stocks industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering psychedelic stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.

Our picks for platforms with research tools

How to invest in psychedelic stocks

1. Choose an online stock trading platform. Choose from our Top Picks above, use our comparison table below or jump straight to the best stock trading apps in Canada.
2. Sign up for an account. Provide your personal information and sign up.
3. Set up a funding method to pay for the transaction. Deposit funds into your account by linking your banking information.
4. Choose the stocks you want to buy. Search for the stock by name or ticker symbol like CMPS or MMEDF.
5. Place your order. Buy the stock. It's that simple.

Learn more about popular psychedelic stocks

We round up a selection of stocks in or related to the experimental drug industry, weighting the list more heavily towards popular mid- and large-cap US stocks.

---

1. Compass Pathways Plc (CMPS)

COMPASS Pathways plc operates as a mental health care company in the United Kingdom and the United States. The company develops COMP360, a psilocybin therapy that is in Phase III clinical trials for the treatment of treatment-resistant depression; and is in Phase II clinical trials for the treatment of post-traumatic stress disorder and anorexia nervosa. The company was formerly known as COMPASS Rx Limited and changed its name to COMPASS Pathways plc in August 2020.

• Previous close price: $3.10
• Market capitalization: $287,286,624
• 1 year performance: -68.30%

Buy CMPS stock on Interactive Brokers

---

2. Mind Medicine MindMed (MMEDF)

Mind Medicine (MindMed) Inc. , a psychedelic medicine biotech company, discovers, develops, and deploys psychedelic inspired medicines and therapies to address addiction and mental illness. The company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances, including Psilocybin, LSD, MDMA, DMT, and an Ibogaine derivative, 18-MC.

• Previous close price: $0.00
• Market capitalization: $940,495,104
• 1 year performance: N/A

Buy MMEDF stock on Interactive Brokers

---

3. Numinus Wellness (NUMI)

Numinus Wellness Inc. provides solutions to develop and deliver psychedelic-assisted psychotherapy and transform the mental health landscape. The company operates in two divisions, Salvation Botanicals and Numinus Health.

• Previous close price: C$0.00
• Market capitalization: $117,784,648
• 1 year performance: N/A

Buy NUMI stock on Interactive Brokers

---

4. Mindset Pharma (MSET)

Mindset Pharma Inc. develops and sells psychedelic medicines to treat neurological and psychiatric disorders in Canada. It focuses on developing MSP-1014, a psychedelic drug candidate.

• Previous close price: C$0.00
• Market capitalization: $72,935,280
• 1 year performance: N/A

Buy MSET stock on Interactive Brokers

---

5. Cybin (CLXPF)

Cybin Inc. , a biotechnology company, focuses on developing psychedelic therapeutics to treat various psychiatric and neurological conditions. The company operates through two segments, Serenity Life and Cybin U.

• Previous close price: $0.00
• Market capitalization: $475,511,072
• 1 year performance: N/A

Buy CLXPF stock on Interactive Brokers

---

6. Field Trip Health (FTRP)

Field Trip Health Ltd. engages in the development and delivery of psychedelic therapies. Its Research division is involved in the development of psychedelic molecules and conducting research on plant-based psychedelics.

• Previous close price: C$0.00
• Market capitalization: $210,823,424
• 1 year performance: N/A

Buy FTRP stock on Interactive Brokers

Buy psychedelic stocks from these online trading platforms

Compare special offers, low fees and a wide range of investment options among top trading platforms.

Note: The dollar amounts in the table below are in Canadian dollars.

Finder Score for stock trading platforms

To make comparing even easier we came up with the Finder Score. Trading costs, account fees and features across 10+ stock trading platforms and apps are all weighted and scaled to produce a score out of 10. The higher the score the better the platform - simple.

Read the full methodology

Related: Compare the best stock trading platforms in Canada

Bottom line

While it's possible to turn a profit investing in psychedelic stocks, keep in mind that—like any investment—psychedelic stocks are not immune to risk. These stocks are subject to fluctuating conditions both in the market and in the experimental drug industry, so carefully vet your picks before you invest. If you're new to investing or if it's been a while since you've taken a critical look at your investment accounts, compare brokers to make sure you're getting the best trading features for your needs.

Related: How to buy stocks in Canada

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.