Motley Fool likes MMED Potential....Came across this, thought I'd share, MF has a good track record....I bought this back in October and keep adding to my position, to date I'm up 27%...
The psychedelics industry is an excellent place to find millionaire-maker stocks
Everyone dreams of finding those one-in-a-million stocks that provide investors with incredible growth. The key to finding these millionaire-maker stocks is by searching for businesses with attractive long-term trends before they become widely known by the rest of the market.
Often some of the best stocks are high-quality businesses that are rapidly disrupting an industry. Other times they are the leading companies of a new industry that’s just starting to gain popularity.
Over the past few years, there have been several opportunities like this for investors. Pot stocks were highly rewarding leading up to legalization. Plus, tech stocks are always an industry with the potential to find these investments.
Today, though, the investments are in newly emerging high-growth industries.
Another great growth industry for long-term investors is the psychedelics industry. Right now, the industry is being compared to the cannabis industry back when it was in its infant stages. Many think psychedelics could have significant pharmaceutical potential making these investments very attractive.
Although psychedelics is being compared to cannabis because of the potential to create so many millionaire-maker stocks, down the line, the opportunities are actually far broader.
The hype in the cannabis sector was always about the potential of legalization. With psychedelics, however, there’s a lot more opportunity with the science. This has many well-known investors like Kevin O’Leary and Peter Thiel getting in on the sector. So it’s no surprise that many think the industry could be full of millionaire-maker stocks.
Plus, in addition to the long-term prospects, the industry offers short-term potential now. Investors continue to jump on the bandwagon bringing more momentum to the sector. And with the psychedelic ETF that just launched last week, you can expect the demand for these shares to continue to increase rapidly.
If the potential for psychedelics is something that piques your interest, there are several opportunities to consider. However, one of the top potential millionaire-maker stocks in the sector is Mind Medicine (Mind Med) Inc.