$MEDI - Morning Dip, Lots of Growth to Come KetamineOne dipped hard this morning, bottoming at $1.30 before moving up 15% to $1.50 in just 2 hours. As a company that focuses on ketamine-assisted therapies and psychedelic treatments, their work is becoming more and more important as people look for new treatments for depression and other disorders such as addiction.
Ketamine is a drug that has been around since 1956 and was approved for use in 1970. Unlike many new drugs, ketamine has a long track record, meaning that we know the long-term effects, unlike many other newer medications/psychedelic compounds. An article I just read states that ketamine is continuing to show promise to treat depression for those who haven’t found relief from other medications. According to the WHO, around 1 in 29 people suffer from depression, making the potential ketamine-assisted therapy market huge.
Read the full article here: https://www.google.ca/amp/s/abcnews.go.com/amp/Health/doctors-treating-depression-promise-ketamine-cheap-drug-approved/story%3fid=78928816
$MEDI is a pre-established company with decades of experience (23 years to be exact) and 16 locations with more under LOIs. Their unique business model of combining wearable technology, data analytics, and new treatments to track patient experience improves the experience for every patient (helps increase the return rate, thus generating even more revenues in the future).
Currently, $MEDI has a market cap of $174M at a share price of $1.46