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Clearmind Medicine Inc. (NASDAQ:CMND) shares are trading higher Friday after the company announced advancement in its proprietary MEAI-based binge behavior regulator program through the granting of patent approval in Hong Kong by the Hong Kong Patent Office.
The Details:
Clearmind said the allowed claims are directed to use a primary amine aminoindan compound to regulate binge behavior, including primary amine aminoindan compounds beyond 5-methoxy-2-aminoindan (MEAI), the company’s innovative psychedelic molecule.
MEAI is a psychoactive molecule that reduces the desire to consume alcoholic beverages and provides a slight euphoric, alcohol-like experience. Clearmind’s MEAI-based flagship treatment focuses on Alcohol Use Disorder and weight loss. MEAI may also be used to treat binge drinking, according to Clearmind.
The company has 28 granted patents across 18 patent families, with patents granted in major jurisdictions such as the U.S., Europe, China, India and Hong Kong.
Clearmind shares are moving on heavy trading volume following the company's announcement with more than 70.7 million shares already traded in Friday's session. According to data from Benzinga Pro, the stock’s 100-day average volume is less than 1.3 million shares.
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By now you're likely curious about how to participate in the market for Clearmind Medicine – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of Clearmind Medicine, which is trading at $1.71 as of publishing time, $100 would buy you 58.48 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
CMND Price Action: According to Benzinga Pro, Clearmind Medicine shares are up 29.1% at $1.73 at the time of publication Friday.
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Posted In: CMND
