 be safe. What's up money gigs? Mr V here. Welcome to another video guys. So into this video, I want us to talk about ticker symbol M N D M. So this is a company that works in biotech and produces psychedelic substances or medicine that helps people that have some sort of mental health diseases or depression as well as addiction. So they are producing psychedelic medications that would help people in that space. Before we get started guys, if you're new to the channel, we took up our hard to earn money, how to save money, how to invest and build wealth. So if there's something that interests you, go ahead and hit that subscribe button and the notification bell so you don't miss out on new content. Again guys, my med is a clinical stage psychedelic medicine biotech company that discovers, develop and deploy psychedelic inspired medicine and therapies to address addiction and mental diseases. So this company again, it's a new company. They were trading over the counter and they just recently joined the NASDAQ as far as just this week. So they moved over, they got upgraded to the NASDAQ. So now the company is trading there and I wanted to cover this company because we've gone through a phase of about 13 months now where we had COVID-19 and a lot of people have different issues as far as depression, addiction, mental health disease. Right now it's really, really common among young people. Again people are struggling with all these because of the fact that we were humans, we're supposed to be socializing and for 13 months we got trapped in the house and a lot of people cannot take that kind of stress. So I kept thinking like hey if these guys are producing medicine or psychedelic medicine that can help people hopefully it's a company that we can watch and see where things go from because who knew that 13 months ago we would, where we are today would, how things have changed, work from home lifestyle, wearing a mask and doing all that stuff. So we never knew that. So again I just want to take a deeper dive here and kind of see it. So this company as of right now it's not a profitable company. They are still what I call a startup. All their products are not profitable yet they haven't even have any products that have gone to market. So until we see them go to market the company is just losing money in research and development and try to develop their different medications. So I'll definitely go to the website read about the company. I've never really had anybody close to me that had had any sort of addiction or mental health issues. So for people that have that you know that kind of issues in your family please if you don't mind I would love to get your take as to what you think about a company like MyMed that's producing psychedelic medication. So I personally I didn't even understand what these words as far as the psychedelic medication why it was a little bit different. So I went and actually googled this out so you can see here this is it we read this out. Psychedelic states are a rate of experiences including changes of perception such as hallucination. And so and I started thinking like well so includes like focus consciousness variation thoughts and trends of a hypnotic state. I was like oh this is interesting. So from what I see or what I've read so far the benefit of these medications or this particular treatment is that it helps people know at least address their addiction issues and their mental health issues without the chances of them relapsing. So that's what they are claiming until we see their product in the market and see people try and give those feedback as of right now you know I'm just going to consider this a startup. So like I said the company is currently not profitable. They've been losing money the last three or four quarters they're keep losing money again to start up they're putting up money in their research and development and trying to come up with a product until they have products that are ready to go to market and then we can start thinking of this one as maybe the company is here to stay. So as of when I was doing this this particular video this stock is currently trading at four dollars and 32 cents. Again it just opened up on the NASDAQ this week but it came from over the counter which is where it used to trade before. So at four dollars and 32 cents we're probably asking like is this a buy or a wait or whatever in my person I take here. I don't understand the space that much but I know for sure that there's a need for something different because what we have right now as far as treatment for addiction and mental illnesses doesn't work because people relapse all the time. So it is an alternative to that. I would definitely love to sit in the market but that doesn't mean I'm going to jump on this one. I'm going to have to pump the brakes on this one and wait and see it. Again if I'm going in I'll probably just put like a hundred dollars in there knowing full away that if I lose it it's nothing. So I'm not going big here it's probably put like a hundred dollars and see what happened to the stock. If you ever if it turns into something good if it turns into nothing I'm absolutely okay in losing that money. But again I want you to do your own research make sure that you understand the company and the space before you go dump any money in there. So that's what I wanted to cover in this video again guys. Let me know in the comment section what do you think about this idea of psychedelic medicine in trying to address mental health and addiction issues without the possibility of relapsing. Again that's one thing that I want to hear if you have an experience like that with either family friends or anything just kind of share with me or share in the comment section let's see what your thoughts are. If you're new to the channel we talk about how to earn money how to save money how to invest and build wealth. If there's something that interests you go ahead and hit that subscribe button and the notification bell too you don't miss out on new content. Also if you are looking to get to the investing guys webo has their promotion where if you sign up and deposit a hundred dollars you get some free stocks and as always guys do your due diligence don't be a greedy savage and stay motivated.