It’s All About the Drugs 🍄🌿 | Midas Letter RAW
It’s been another wild week! Cryptocurrencies, like Bitcoin (BTC), fell off a cliff as China and the Treasury Department cracks down on transactions. While Twitter fingers, Elon Musk, added fuel to the fire stating Tesla would be suspending Bitcoin purchases. At one point, bitcoin dropped more than 50% from its April all-time-highs. So after all that, maybe it’s time you chilled out, got your pipe, glass, or paraphernalia of choice because this week “It’s all about the drugs”.
On top of rounding up the happenings in markets, the economy, the latest on inflation, the recent gold rush, our focus this episode is on the “shroom boom” and the wacky-tobaccy “green rush”. Hope you enjoy it!
We have two exclusive interviews on deck in today’s episode:
Since we interviewed Kevin O’Leary about his investment in MindMed back in Q1 2020, the stock is up over 1,500%. The biotech company developing psychedelic-inspired medicines and therapies to address addiction and mental illness took a step towards moving into the mainstream as its shares uplisted to the NASDAQ. MindMed continues to move towards positive results in its clinical trials using a host of psychedelic compounds. MindMeld’s latest approval from the Swiss ethics committee allows them to evaluate the effects of Mescaline as a treatment. As Mr. Wonderful said, “if you keep moving forward, you become more valuable.” Watch this interview to see how MindMed is doing just that.
Its been a while since we have received an update from the supplier of unique ingredients and customized formulations to the cannabis beverage and edibles market. Highly requested CEO Dr. Arup Sen provides his thoughts on Sproutly’s scientific breakthroughs and its partnerships with established consumer brands. For those that don’t know, Sproutly is the exclusive licensee of a patent-pending APP Technology called INFUZ2020. This infusion provides enhanced end-product benefits as compared to traditional methodologies – it controls the rapid onset and offset of true-to-strain cannabis experiences that are not achieved by distillates and terpenes.