Why Is Clearmind Medicine (CMND) Stock Up 56% Today?

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  • Clearmind Medicine (CMND) stock is rallying on Tuesday.
  • That’s despite a lack of relevant news today.
  • However, the shares are seeing heavy pre-market trading.
CMND Stock - Why Is Clearmind Medicine (CMND) Stock Up 56% Today?

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Clearmind Medicine (NASDAQ:CMND) stock is taking off on Tuesday despite a lack of news concerning the psychedelics company.

There’s no new press releases or filings with the U.S. Securities and Exchange Commission (SEC) that explain the rise in the stock today. However, it’s worth noting that the company sent out a tweet yesterday that may help explain its increase.

That tweet includes a quote from former heavyweight champion Mike Tyson allegedly saying that psychedelics cured his depression and suicidal thoughts. While this could be helping out CMND stock, the tweet seems to have low interactions, meaning that’s unlikely the case.

What’s Behind the CMND Stock Rise?

Instead, it looks like investors can thank heavy trading of CMND stock for the incredible rise in price today. As of this writing, more than 7.7 million shares have changed hands. That’s a massive jump compared to its daily average trading volume of about 2.8 million shares.

Investors will keep in mind that CMND has a low trading price. The company’s shares closed out Monday with a price of 43 cents each. With that low price point, it’s fairly easy for retail investors to come together and pump up the stock. That could be what’s happening today, which means we might see a crash once the rally ends.

CMND stock is up 55.9% during pre-market trading on Tuesday.

There’s other stock market news traders will want to know about below!

We’ve got all of the latest stock market news for investors to read about on Tuesday! Among that is what has shares of National CineMedia (NASDAQ:NCMI) stock up, the biggest pre-market stock movers this morning and more. All of that news is ready to go below!

More Tuesday Stock Market News

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


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