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No Matter How the Pandemic Rolls, Mind Medicine Will Prevail

More than a year ago, a colleague of mind introduced me to Mind Medicine (NASDAQ:MNMD). Back then, MNMD stock was trading in the over-the-counter market, which was the first red flag – or at least a yellow one. With their typically low volume and ridiculous bid-ask spreads, OTC-based securities are not something you should dabble in haphazardly.

MNMD stock: A scientist holding a test tube in a stock image
Source: Shutterstock

But the other aspect that caught my attention was the underlying business. As a psychedelic-inspired medicine and experiential therapy specialist, Mind Medicine naturally courts at minimum a modicum of controversy. In addition, I think there’s skepticism about using psychedelics to help address problems associated with abusing psychedelics.

My gut reaction at the time was that this was a nutty investment. So of course, I ended up buying MNMD stock. My only problem at this point is, channeling the infamous Jordan Belfort, I didn’t buy more.

Following the mercurially intense speculation of the trailing year, MNMD stock stands as one of the best moves I’ve made. The other is a meme trade whose name I shall not mention. But having utterly skyrocketed, is there any room left for current prospective buyers?

While I’m biased, I think there is and it stems from circumstances associated with the novel coronavirus pandemic. Better yet, it probably doesn’t matter how the pandemic plays out, Mind Medicine will likely be relevant.

MNMD Stock and the Potential of a Worsening Crisis

Critically examining the events that transpired since roughly February of last year, the response of this nation has been mixed. On one hand, Americans should stand proud that we marshaled all available scientific and medical resources to combat this threat, resulting in a successful vaccine rollout.

Plenty of partisan influencers talk about American exceptionalism. This was a clear example of it.

But on the other end, the violence and the various social outbursts were not helpful in getting past the crisis, to put it mildly. While not excusing such behavior, on a broader level, it’s understandable. As I’ve said before, other national tragedies, such as natural disasters or terrorism, have been localized incidents.

With Covid-19, we all suffered in some significant fashion. And to be blunt, we Americans of all stripes are a blessed bunch. We don’t go through the trials and tribulations of other parts of the world. Frankly, most of us got a rude awakening that the planet is a lot smaller than we thought it was. Thus, it’s no surprise that many failed to process this revelation appropriately.

Logically, if we suffer another massive hit– this time from the delta variant – it will likely amplify stress levels in this country. Though a cynical catalyst, it’s nevertheless a tailwind for MNMD stock.

As American Medical Association member Dr. Lisa MacLean stated, “People are feeling overwhelmed, uncertain, anxious, helpless, frustrated, stressed and exhausted.” MacLean, a psychiatric expert, continued, “With the worsening of — and gradual decline in mental health — we are also seeing anger, depression, insomnia and increased substance abuse as well as a reported increase in isolation and loneliness.”

Again, it’s not the most feel-good tailwind but a worsening pandemic will likely only increase support for MNMD stock.

What Happens if the Pandemic Fades Away?

Of course, the fundamental criticism against the above thesis is that the Covid-19 pandemic is more than likely a one-off headwind. Even if the virus sticks around in some shape or form, in some cases (definitely not all), viruses mutate to become more contagious but less lethal.

So, what happens to MNMD stock if the pandemic burns out entirely or in intensity? Either way, I believe psychedelic and alternative medicines will have a long upside pathway.

First, the pandemic fading implies society normalizes – kids go back to school, adults go back to the cubicles. Naturally, this dynamic will cause its own challenges. Right before the pandemic, workplace stress was on the rise – and significantly so.

But what if work from home becomes a permanent fixture of corporate America? Wouldn’t that be an obstacle for MNMD stock?

Well, it’s important to note that not everyone in this country is a white-collar worker. Some occupations simply require people to occupy a physical post. Further, as The Guardian pointed out, working from home has created its own distinct challenges.

Primarily, telecommuting causes people to work longer hours and essentially become tethered to the work computer. Thinking about it, it makes sense. What will usually take a quick conversation in the office becomes emails and teleconference calls – a very unproductive and time-consuming methodology to accomplish what was previously a simple task.

These issues can really drive people up the wall. Further, without the ability to communicate in person, tensions can flare up. Indeed, government data indicates that social isolation can lead to increased stress. Stuck in our silos, it’s easy to think the worst of a colleague, especially since we can’t clear the air with that person one-on-one.

Alternative Health Has Substance

Finally, it’s worth mentioning that alternative health such as psychedelic-based medicine is not quackery, quite the opposite. According to, scientists are actively exploring compounds like ketamine – a medication that induces dissociative anesthesia which people also use as a recreational drug – to treat rare diseases.

Of course, you will want to perform your due diligence with MNMD stock and any investment in the psychedelic medicine sector. When you do, though, I think you’ll discover as I have that alternative therapy will likely have a seat at the table in how we approach certain conditions.

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On the date of publication, Josh Enomoto held a LONG position in MNMD. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.

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