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Psyence Biomedical Ltd (NASDAQ:PBM) shares are trading lower on Tuesday by more than 12%, a sharp reversal after a massive rally on Monday. Investors appear to be engaging in profit-taking after the stock’s recent vertical climb.
The stock surged nearly 72.63% during Monday’s regular trading hours. At the time, the psychedelic sector received a major boost.
President Donald Trump signed an executive order to accelerate mental illness treatments. This order specifically targets faster reviews for psychedelic drugs. It also includes a reported $50 million commitment for ibogaine …
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