This election season (like every election season) has been a wild one.
But our team was tracking results in Colorado very closely — and not for the reasons you might think.
We were tracking the legalization of psychedelics.
After passing by a slim margin, Proposition 122 will allow for the cultivation of psilocybin mushrooms and create state-regulated centers where Coloradans can make appointments to consume it.
Advocates for psilocybin tout the substance’s ability to treat mental health conditions such as depression and anxiety; and when taken in small enough doses, patients can achieve the desired health benefits without the “trippy” effects most people associate with “magic mushrooms.”
This method is called “microdosing” and is one of the fastest-growing trends in the LikeFolio universe, with mentions up 925% from last year.
Discussions surrounding the topic are exploding, and the sample size is nothing to scoff at. We logged more than 100,000 of these topical discussions last quarter alone.
Despite this surge in interest, this trend is still in the very early stages of development.
Colorado, after all, is only the second state (behind Oregon) to legalize access to psilocybin in this nature.
But as an investor, it’s something to watch.
This treatment could serve as a solution for those struggling with their mental health, which has become increasingly common post-pandemic.
According to the National Institute of Mental Health, as many as one in five American adults are living with a mental health disorder. And 1.5 million folks in Colorado alone are in need of treatment.
So, we’re beefing up our research in this segment and adding to our coverage list three major drug companies that specialize in the development of therapeutic psychedelic compounds.
These names are live on our research dashboard for ongoing tracking:
- ATAI Life Sciences N.V. (ATAI)
- COMPASS Pathways (CMPS)
- Mind Medicine (MindMed) Inc. (MNMD)
While the world of psychedelic treatments is still in the early phases, it’s always better to be informed about potential investment opportunities.