We’ve been reporting on investment superstar Cathie Wood making the move into psychedelics. Her ARK Genomic Revolution ETF has begun buying into ATAI Life Sciences, slowly increasing its investment with additional purchases of the psychedelic medicine market cap leader (our last reporting around had their total purchase of ATAI at over 340,000 shares or approx $2 million at current value).
Well it seems that ARK is doubling down on its psychedelic bet (actually more than double), showing that it believes in the innovative potential of the sector.
ARKG has continued to buy ATAI shares in the last week, bringing their total to approx 1 million shares. See the buying reports from their website below.
This endorsement from a big-name investor will help legitimize the sector and bring more capital to the space. Good news for a sector looking for help out of a market slump.