[Synthetic patented psilocybin] are giving [some stock] investors a bad trip
It won’t be long before politicians trip together to resolve their differences… billionaire German investor Christian Angermayer, says. Right now, though, the charm offensive isn’t working so well.
An exchange-traded fund tracking psychedelic stocks has lost two-thirds of its value since peaking last year. While some of these companies haven’t suffered as much… the comedown has also put a dent in Angermayer’s wealth… told me investors partly have themselves to blame for financing “nonsensical” companies that tout psychedelics but have “no clearly defined strategy or viable business model.”