Is It Too Early to Invest in Psychedelic Stocks?
Psychedelics could be the next big thing in medicine. Many companies are researching drugs that could help people with depression and other ailments through the use of ketamine, ecstasy, and psilocybin. And it's not just small companies that are exploring the sector, either. The U.S. Food and Drug Administration (FDA) approved a ketamine-based drug from healthcare giant Johnson & Johnson in 2019.
However, many companies in the psychedelics sector are in their very early growth stages and aren't generating much (if any) revenue. For growth investors, it may seem like a tempting proposition to buy in now before the sector takes off like cannabis. Is that too big an assumption to make, or can investing in this industry really make you rich?
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Source Fool.com
