Horizons Pychadelic ETF incoming (PSYK)Horizons is launching a new ETF that tracks the psychedelic market which is an exciting opportunity to buy and hold for long term.
I find myself holding a variety of psychedelic stocks at the moment, Im thinking that this new ETF is going to make my investment much safer. So I am excited about it.
There is insane room for growth in this market, all of which is mostly correlated to FDA approvals of drugs, which has not yet taken place.
FDA approvals will sky rocket these stocks, and further, the development of drugs for mental health, depression and anxiety will create a lucrative business for these holdings. At the moment, my favourite one would be Mindmed, followed by the new PSYK for diversification.
In the short term, we may find turbulence with psychedelic holdings, specially should they encounter FDA problems. However, accumulating the lows on the long term, will likely flourish into a good trade when things come together nicely.
