Just as the idea of using psychedelic medicines to treat mental illnesses is gaining traction in society, psychedelics-focused biotech companies are becoming legitimate and lucrative investments that could help your portfolio in the future. 

Before you can appreciate which psychedelics players are worth investing in, you'll need to get a feeling for where the industry is going and how it's changing. On that note, there are three trends that are particularly important to sharpen your psychedelic stock-picking chops, so let's take a moment to appreciate each of them.

Perhaps the most frustrating trend for investors considering psychedelic stocks is the rising cost of borrowing money. As inflation surges in the U.S., the Federal Reserve is trying to stop it by hiking the federal funds rate, which ultimately determines how much interest companies need to pay when they take out fresh debt. Higher rates equal more expensive borrowing costs, which in turn contributes to the market's fierce dislike of growth stocks since they are most likely to need extra capital to compete.

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Source Fool.com