Over the weekend, President Donald Trump pulled out his pen to sign an executive order meant to accelerate research around psychedelic drugs, “including ibogaine compounds,” in the treatment of serious mental illnesses.
That news has given a major boost to a small, niche corner of the pharmaceuticals market that often faces roadblocks in the form of funding, testing, and regulatory approvals. The AdvisorShares Psychedelics ETF (PSIL) closed up 10%, notching its best day in over a year.
