Following up on last week’s reporting, ARK investor Cathie Wood has made another significant investment in Atai. This time Wood’s ARK innovation fund has bought 285,454 shares of Atai stock, for an approximate value of $1.1 million.
Since last week’s buy-in of 100,000+ shares, the fund has made 4 other purchases, bringing its total investment for the month of July to 621,812 shares.
This is a major buy-in from a big-name investor, showing that confidence is indeed slowly returning and that we perhaps have finally reached that elusive bottom.
Interested in more like this? Check out Psychedelic Stocks: Have We Finally Hit Bottom?
Original post: July 7, 2022
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
Yesterday we received news of additional investment into Atai, with a purchase of 103,977 shares by Cathie Wood’s ARK fund. With the psychedelic medicine industry in the midst of a year-long funk, this kind of investment by a major player shows that at least some experts believe that we may have finally reached a bottom of some sort.
Atai stock is up in the last few days, perhaps on this news but also probably due to positive in movement in greater tech markets.
Stay tuned to Microdose for more industry updates and a discussion on the state of the markets.
