Mind Medicine (MNMD) Stock: How a $1,000 Investment 5 Years Ago Would’ve Played Out Today

Psychedelic stocks promised moonshots—but did they deliver?

Back in 2020, Mind Medicine (MNMD) rode the wave of psychedelic therapy hype. Investors betting on the mental health revolution poured cash into biotech startups like this one. Fast forward to 2025: the sector’s had more ups and downs than a bad acid trip.

The brutal math of speculative biotech

Clinical trials move slower than crypto bulls during a bear market. While MNMD made headlines with its LSD-based anxiety research, shareholders learned the hard way that FDA approvals don’t follow meme-stock timelines. The stock’s volatility would’ve given even diamond hands vertigo.

Where’s the payoff?

Five years later, that initial $1,000 either became life-changing wealth or a cautionary tale—depending on when you sold. Early investors who timed the 2021 speculative peak could’ve banked 10x returns. Those who held through the subsequent crash learned why they call it ‘experimental’ medicine. Meanwhile, Bitcoin quietly did another 5x. Just saying.

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Owing in large part to its highly speculative outlook, Mind Medicine stock has seen periods of huge volatility over the last five years. Despite jumping roughly 35% over the last year of trading, the company's share price is actually down roughly 86% from its valuation high in the period.

However, Mind Medicine still delivered substantial returns over the last five years. While the stock underperformed theindex's total return of roughly 91% over the stretch, it still posted an 87% return over the 12 months ended Aug. 8. If you had invested $1,000 in the stock five years ago and held on to your shares, the position WOULD now be worth roughly $1,875.

Can Mind Medicine beat the market over the next five years?

Mind Medicine stock is a very risky investment, but it does have avenues to significantly outperform the S&P 500 index over the next five years. The lead treatment in Mind Medicine's pipeline is a modified FORM of Lysergide D-tartrate, a form of LSD.

While the idea of using psychedelics to treat anxiety and depressive disorders may seem unconventional, there is research that points to meaningful efficacy -- and Mind Medicine's early clinical results have supported continued research and trials. The company is set to release Phase III trial results for the treatment next year, and positive data could trigger the early stages of a strong run-up for the stock. Mind Medicine stock comes with a high risk profile, but shares could surge if the biotech specialist successfully brings a treatment to market.