A prominent media leader for the growing sector of clinical psychedelics has announced some recent financial success derived from investments in the same industry it is so enthusiastic to be a part of.
On Wednesday, PSYC Corporation (OTCPink: PSYC) proudly revealed that its US$125,000 investment in a so-called Conscious Fund (TCF) stock portfolio comprised of different psychedelic-oriented companies had earned an unrealized gain of almost 30 per cent since January 2021.
$PSYC provides update on investment in @ConsciousFundHQ's portfolio of #psychedelic-focused companies
🔼 30%
“Strategic investments like TCF demonstrate PSYC’s approach to diversifying our short and long-term assets…” -David Flores, @PSYCCEOhttps://t.co/wjMRDIJkAJ#stocks
— PSYC Corp. (@PSYCCorp) June 29, 2022
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The Conscious Fund portfolio includes companies such as Cybin, Numinus, Hive and several others.
PSYC is responsible for Psychedelic Spotlight, a renowned psychedelic-concentrated news and information publication. The company expresses a commitment to discovering and interpreting contemporary research and marketing opportunities associated with psychedelic-derived medicines.
“Our strategic investment in TCF already provided PSYC with valuable leverage to the dynamic growth of medicinal psychedelic companies during suboptimal macro and micro market conditions. We believe these early results in the face of economic adversity are a mere portend of the sector’s durability and longevity,” said PSYC Chief Financial Officer, Craig Schlesinger.
PSYC Chief Executive Officer, David Flores, also said that the appreciation of TCF was very encouraging despite some of the economic difficulties faced in the clinical psychedelic sector over the past several months. He expressed a great deal of optimism for the industry going forward and stated that investments like TCF demonstrated PSYC’s strategy of diversifying assets with maximum profitability for shareholders in a reasonable time frame.
Photo via PSYC