24/7 Market News- Mind Medicine (NASDAQ: MNMD) may make more Meme Momo

August 18, 2022 1:45 p.m. EDT

(24/7 MARKET NEWS) –Mind Medicine (NASDAQ: MNMD) caught our attention in this morning’s premarket.

After opening at $1.19 and running to a high of $1.33, the clinical stage biopharmaceutical company, which is developing novel products to treat brain health disorders, drifted down to a low of $0.9023. It’s bounced off of the low and may take another shot at its high-of-the-day. It’s now trading at $1.09, up $0.341 (+45.53%), on over 163 million shares.

The move is being powered by reports that Jake Freeman, a USC student who, according to Securities and Exchange Commission filings, booked $110 million in profits from recent meme-stock favorite, Bed Bath & Beyond, recently built up an activist stake in Mind Medicine.

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