We’ve been reporting on controversial investment star 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 Atai.
In mid-July, we had the ARK fund at a total investment of 621,812 shares for the month. That was big enough news on its own, but since then the buys kept coming at an increased rate.
The new total purchase of Atai stock for the month of July is over 3 million shares (3,018,751). Taking an approx average price of $4.00 for the month, that’s over $12 million put into psychedelics by Cathie Wood’s fund.
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
.
See below for a chart on recent Atai purchased by the ARK Genomic Revolution ETF.
