Investors woke up this morning to a huge buzz in mushroom stocks. Shares of MindMed surged more than 60% in premarket trading, sparking waves of speculation on the Internet.
There doesn’t seem to be any significant news from the company, so the currently accepted hypothesis is that meme traders have set their sights on MindMed.
Seconds MarketWatch and other sources, meme star Jake Freeman has “acquired an activist stake” in MindMed. Freeman is the 20-year-old trader USD 110 million in the BBBY the meme craze, and is the nephew of former MindMed co-founder and CMO Scott Freeman.
The Freemans are actively involved in MindMed, reaching up to start an activist campaign to make changes to MindMed that they believe will help shareholders. This group, the FCM, is managed by Dr. Scott Freeman, who owns significant shares of MindMed: “Dr. Freeman’s investment in MindMed exceeds nineteen million shares or 4.51% of MindMed’s outstanding shares.” In your letterthey say they want to “work hand in hand” with the board to “unlock the full potential of the company”, giving the company until the end of the month to respond.
So it looks like a famous meme trader and his privileged uncle are starting to make it big in MindMed.
And since it looks to be a wild day in psychedelic stocks, we also have BrightMinds Bioscience (ticker: DRUG ) running nearly 400% this morning. Again, there doesn’t seem to be any significant news from the company and no echo of memes, so maybe this series has something to do with the recent rule changes by the IIROC in bare short selling, causing traders to cover their current short positions.
Stay tuned to Microdose for more on this news.
