As psychedelic-inspired medicines laid the groundwork for the first psychedelic medicine, a nasal spray called Spravato, used for the treatment of depression, to clear U.S. Food and Drug Administration approval in March 2019, changing science, consumer attitude and changing laws are paving the way for major gains in psychedelic stocks.
The psychedelic market just took a massive step towards legitimacy in the eye of corporate America. Earlier this month, the U.K.-based pharmaceutical company Compass Pathways became the first psychedelic company to break into U.S. markets. The news is a big step towards the legitimacy of the legal psychedelic marketplace—which is forecasted to be nearly a $6.9 billion business by 2027.
Recent reports shows that the psychedelics industry overall, is projected to substantially grow in the next several years. Psychedelics stocks have gone wild since the start of the year.
Minerco Inc (OTC: MINE) is one of the names that has gained interest during the late month of 2020, as investors started to pick up shares based on the increasing daily average volume. Sometimes stocks trend higher on improving sentiment among investors for a specific industry. We’ve discussed the company numerous times in the past and watched it climb from 0.0003 last year to over a penny last month.
Earlier this week, the company announced that they have purchased a custom micro-dose pill machine. This strategic purchase puts MINERCO at the forefront of psychedelics increasing healing from psilocybin tablets worldwide. This machine will produce 1 million units daily. In markets where psilocybin is not legal, Minerco will manufacture medical mushrooms including Chaga and Lion Mane as legal alternatives.
Minerco leadership announced the company’s four critical goals at the Sankofa Shareholder and Vision Summit held on January 24, 2021:
- Retire Debt
- Acquire the equipment necessary to manufacture 1 million micro dots daily
- Launch anticipated blockchain token SHRU
- Acquire a U.S. location to maximize operations both domestically and globally
On February 16, 2021, the company announced a full settlement of debt to EROP capital. As of March 1, 2021, the company successfully launched their Blockchain token SHRU and payment application SHRUCOIN Pay. With the acquisition of the machine, MINE’s leadership have achieved three out of the four goals announced at the Summit.
The company is optimistic about these business developments. In light of this, Minerco CEO Julius Jenge released the following statement:
“Increasing the company’s psilocybin tablet production capacity was a crucial goal to prepare the company for success as legal markets expand in the United States. We are fully prepared for the bright future of this newly legal industry and feel confident in the firm’s ability to meet growing demand.”
Although investors may be discouraged by the stock’s recent fall, it’s important to remember this is a good long-term hold. Minerco Inc (OTC: MINE) has a strong business model, and with the company focusing on its psilocybin portfolio, we could see a lot more growth in the years to come. Patient Investors Can Prosper in The Long Term by initiating Positions in Psychedelic Stocks such as Minerco Inc (MINE).
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