Mind Medicine (MNMD)
Market Price (12/30/2025): $13.45 | Market Cap: $1.2 BilSector: Health Care | Industry: Biotechnology
Mind Medicine (MNMD)
Market Price (12/30/2025): $13.45Market Cap: $1.2 BilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15% | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Psychedelic Therapeutics, Biopharmaceutical R&D, Show more. | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -151 Mil | |
| Stock price has recently run up significantly6M Rtn6 month market price return is 107% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -19% | ||
| Key risksMNMD key risks include [1] uncertainty in securing regulatory approval and market access for its therapies, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Psychedelic Therapeutics, Biopharmaceutical R&D, Show more. |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -151 Mil |
| Stock price has recently run up significantly6M Rtn6 month market price return is 107% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -19% |
| Key risksMNMD key risks include [1] uncertainty in securing regulatory approval and market access for its therapies, Show more. |
Why The Stock Moved
Qualitative Assessment
AI Analysis | Feedback
1. Positive Clinical Data and Breakthrough Therapy Designation: The company published full results from its positive Phase 2b study of MM120 in Generalized Anxiety Disorder (GAD) in JAMA on September 4, 2025. This demonstrated strong, durable efficacy, including a 65% clinical response rate and 48% remission rate at 12 weeks, which supports the MM120's U.S. Food and Drug Administration (FDA) Breakthrough Therapy Designation.
2. Successful Capital Raise: Mind Medicine completed an underwritten public offering on October 31, 2025, which generated approximately $242.8 million in net proceeds. This significant capital infusion is projected to fund the company's operations into 2028, extending its cash runway beyond critical Phase 3 data readouts.
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Stock Movement Drivers
Fundamental Drivers
The 11.8% change in MNMD stock from 9/29/2025 to 12/29/2025 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| 9292025 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 12.04 | 13.46 | 11.79% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 0.00 | 0.00 | � |
| P/S Multiple | ∞ | ∞ | � |
| Shares Outstanding (Mil) | 85.35 | 85.89 | -0.63% |
| Cumulative Contribution | � |
Market Drivers
9/29/2025 to 12/29/2025| Return | Correlation | |
|---|---|---|
| MNMD | 11.8% | |
| Market (SPY) | 3.6% | 33.5% |
| Sector (XLV) | 14.7% | 11.2% |
Fundamental Drivers
The 107.4% change in MNMD stock from 6/30/2025 to 12/29/2025 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| 6302025 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 6.49 | 13.46 | 107.40% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 0.00 | 0.00 | � |
| P/S Multiple | ∞ | ∞ | � |
| Shares Outstanding (Mil) | 85.07 | 85.89 | -0.96% |
| Cumulative Contribution | � |
Market Drivers
6/30/2025 to 12/29/2025| Return | Correlation | |
|---|---|---|
| MNMD | 107.4% | |
| Market (SPY) | 11.6% | 37.3% |
| Sector (XLV) | 16.1% | 11.8% |
Fundamental Drivers
The 96.8% change in MNMD stock from 12/29/2024 to 12/29/2025 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| 12292024 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 6.84 | 13.46 | 96.78% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 0.00 | 0.00 | � |
| P/S Multiple | ∞ | ∞ | � |
| Shares Outstanding (Mil) | 77.91 | 85.89 | -10.24% |
| Cumulative Contribution | � |
Market Drivers
12/29/2024 to 12/29/2025| Return | Correlation | |
|---|---|---|
| MNMD | 96.8% | |
| Market (SPY) | 16.6% | 42.7% |
| Sector (XLV) | 13.6% | 22.6% |
Fundamental Drivers
The 511.8% change in MNMD stock from 12/30/2022 to 12/29/2025 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| 12302022 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 2.20 | 13.46 | 511.82% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 0.00 | 0.00 | � |
| P/S Multiple | ∞ | ∞ | � |
| Shares Outstanding (Mil) | 29.30 | 85.89 | -193.16% |
| Cumulative Contribution | � |
Market Drivers
12/30/2023 to 12/29/2025| Return | Correlation | |
|---|---|---|
| MNMD | 267.8% | |
| Market (SPY) | 47.9% | 33.7% |
| Sector (XLV) | 17.6% | 19.9% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MNMD Return | 4204% | -43% | -89% | 66% | 90% | 88% | 1455% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 151% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 114% |
Monthly Win Rates [3] | |||||||
| MNMD Win Rate | 33% | 33% | 33% | 58% | 58% | 50% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| MNMD Max Drawdown | -11% | -43% | -90% | 0% | -3% | -30% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/29/2025 (YTD)
How Low Can It Go
| Event | MNMD | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -96.9% | -25.4% |
| % Gain to Breakeven | 3103.3% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -91.1% | -33.9% |
| % Gain to Breakeven | 1020.0% | 51.3% |
| Time to Breakeven | 224 days | 148 days |
| 2018 Correction | ||
| % Loss | -99.9% | -19.8% |
| % Gain to Breakeven | 181900.0% | 24.7% |
| Time to Breakeven | 71 days | 120 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
Mind Medicine's stock fell -96.9% during the 2022 Inflation Shock from a high on 4/28/2021. A -96.9% loss requires a 3103.3% gain to breakeven.
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AI Analysis | Feedback
- A Canopy Growth or Tilray, but for prescription psychedelic drugs targeting mental health.
- An early-stage Moderna or BioNTech, but developing psychedelic-inspired medicines for mental health.
AI Analysis | Feedback
- MM-120 (lysergide D-tartrate): An investigational drug currently in Phase 2b clinical trials for Generalized Anxiety Disorder (GAD).
- MM-402: A pre-clinical drug candidate being developed for conditions such as autism spectrum disorder (ASD) and other neuropsychiatric indications.
AI Analysis | Feedback
Mind Medicine (MNMD) - Major Customers
Mind Medicine (MNMD) is a clinical-stage biopharmaceutical company focused on the development of psychedelic-inspired medicines for mental health conditions. As of its current stage, the company is primarily engaged in research and development, including conducting clinical trials, and does not have any commercial products on the market.
Therefore, MNMD does not currently generate revenue from product sales and does not have "major customers" in the traditional sense of selling to other companies or individuals.
Because Mind Medicine is a pre-revenue, clinical-stage company, it does not currently sell products or services to other companies or to individuals. Consequently, the conditions for listing major customer names (for B2B sales) or describing customer categories (for B2C sales) are not met at this time.
AI Analysis | Feedback
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Robert Barrow, Chief Executive Officer and Board Director
Mr. Barrow is an accomplished pharmaceutical executive and clinical pharmacologist with over a decade of experience leading drug development programs. He joined MindMed as Chief Development Officer in January 2021 and was named CEO in June 2021. Previously, he served as Director of Drug Development & Discovery at Usona Institute, overseeing preclinical, clinical, and regulatory development, and launching a Phase 2 clinical program for psilocybin that received Breakthrough Therapy Designation. Mr. Barrow was also the Chief Operating Officer of Olatec Therapeutics, LLC, a private clinical-stage biopharmaceutical company. He founded Jasper Biopharmaceutical Advisors in December 2018 and continues to serve as a Principal. He has advised various pharmaceutical organizations, from startups to Fortune 500 companies.
Brandi L. Roberts, Chief Financial Officer
Ms. Roberts was appointed Chief Financial Officer, effective June 2, 2025. She brings over 25 years of financial leadership experience in the life sciences industry. Most recently, she served as CFO and Executive Vice President of Longboard Pharmaceuticals, where she played a key role in the company's IPO, multiple financings, and its $2.6 billion acquisition by Lundbeck in 2024. Her prior experience includes CFO roles at Lineage Cell Therapeutics, REVA Medical, and Mast Therapeutics, as well as senior finance positions at Alphatec Spine, Inc., Artes Medical, Inc., Stratagene Corporation, and Pfizer, Inc.
Dr. Daniel R. Karlin, Chief Medical Officer
Dr. Karlin joined MindMed as Chief Medical Officer in February 2021, following MindMed's acquisition of HealthMode, a company he co-founded and led as CEO. Prior to HealthMode, he built and led clinical, informatics, and regulatory strategy for Pfizer's Digital Medicine and Innovation Research Lab, and also served as Global Clinical Lead for psychiatry clinical compounds at Pfizer. Dr. Karlin was also the founder and Chief Medical Officer at Column Health, an addiction treatment startup.
AI Analysis | Feedback
Key risks to Mind Medicine (MNMD) include:
- Regulatory Challenges and Approval Uncertainty: Mind Medicine faces significant hurdles in obtaining regulatory approval and market access for its psychedelic-based therapies. The approval process for these treatments is still evolving and subject to heightened scrutiny, as evidenced by the FDA's rejection of MDMA-assisted PTSD therapy from another company due to concerns about study design. Delays in DEA rescheduling of Schedule I compounds for medical use could hinder patient access and market entry, and securing payer coverage for such therapies presents additional challenges.
- Clinical Trial Risk: As a clinical-stage biopharmaceutical company, Mind Medicine's success is heavily dependent on the positive outcomes of its clinical trials. There is a risk that Phase 3 data could be disappointing, lead to FDA holds, or reveal unforeseen side effects or complications from psychedelic treatments, which would significantly impact the company's valuation and future prospects.
- Financial Risk and Need for Additional Capital: Mind Medicine currently operates without revenue-generating products and incurs substantial losses due to its extensive research and development activities. The company has a history of negative cash flows, and despite recent capital raises, larger-than-expected losses and a high burn rate could necessitate securing significant additional funding to sustain operations and advance its pipeline to commercialization.
AI Analysis | Feedback
The clear emerging threat to Mind Medicine (MNMD) is the rapid acceleration of state-level decriminalization and regulated access models for psychedelic substances. Jurisdictions such as Oregon (with Measure 109 for psilocybin) and Colorado (Prop 122) have already established frameworks that allow for the therapeutic use of psychedelics outside of the traditional pharmaceutical drug development and prescription pathways. This trend threatens to commoditize the very compounds (like psilocybin, LSD, or MDMA) that MindMed is investing heavily to develop into proprietary, FDA-approved pharmaceutical drugs.
If these substances become legally accessible through alternative channels—such as licensed facilitators, retreat centers, or even personal cultivation—it could undermine the traditional pharmaceutical business model. Patients and healthcare systems may opt for potentially cheaper and less restrictive non-pharmaceutical options, reducing demand for MindMed's expensive, proprietary versions. This could make it difficult for MNMD to justify premium pricing, gain market share, and secure robust patent protection for what could become widely available, de-facto generic compounds, thereby disrupting its core strategy in a manner analogous to how Netflix disrupted Blockbuster by offering a different, more accessible model for content consumption.
AI Analysis | Feedback
Mind Medicine (MNMD) is a clinical-stage biopharmaceutical company focused on developing psychedelic compounds for psychiatric and neurological therapies. Its main product candidates are MM-120 and MM-402.
- MM-120 (LSD D-tartrate): This compound is being developed for Generalized Anxiety Disorder (GAD) and Major Depressive Disorder (MDD).
- For Major Depressive Disorder (MDD), the global treatment market is projected to reach $14.96 billion by 2032.
- MM-402 (R(-)-MDMA): This proprietary form of R(-)-MDMA is being developed for the treatment of core symptoms of Autism Spectrum Disorder (ASD).
The addressable market size for Generalized Anxiety Disorder (GAD) and Autism Spectrum Disorder (ASD) for Mind Medicine's products is not explicitly provided in the search results.
AI Analysis | Feedback
For Mind Medicine (symbol: MNMD), the expected drivers of future revenue growth over the next 2-3 years are primarily tied to the successful advancement and commercialization of its pipeline products, as the company is currently pre-revenue.
- Successful Commercialization of MM120 for Generalized Anxiety Disorder (GAD): Mind Medicine's lead product candidate, MM120 (lysergide D-tartrate) in an orally disintegrating tablet (ODT) formulation, is currently in Phase 3 clinical trials for Generalized Anxiety Disorder (GAD). Topline data from the pivotal Voyage study is anticipated in the first half of 2026, and from the Panorama study in the second half of 2026. The MM120 ODT has received a Breakthrough Therapy Designation from the FDA for GAD and an Innovation Passport from the UK’s Medicines and Healthcare products Regulatory Agency (MHRA), which is expected to accelerate its market access. Positive outcomes from these trials and subsequent regulatory approvals would be the primary driver of initial product revenue.
- Successful Commercialization of MM120 for Major Depressive Disorder (MDD): Beyond GAD, Mind Medicine is also advancing MM120 ODT into Phase 3 studies for Major Depressive Disorder (MDD) with the Emerge study. Enrollment for the Emerge study has progressed faster than anticipated, with topline results now expected by mid-2026. The company plans to initiate a second Phase 3 study for MM120 in MDD, named Ascend, in mid-2026. Successful development and regulatory approval in this large market could significantly contribute to revenue growth.
- Advancement and Potential Commercialization of MM402 for Autism Spectrum Disorder (ASD): Mind Medicine is developing MM402, a proprietary form of R(-)-MDMA, for the treatment of Autism Spectrum Disorder (ASD). The company plans to initiate a Phase 2a study for MM402 in ASD by the end of 2025. Progress in this program represents a pipeline expansion and a potential future revenue stream, further diversifying the company's therapeutic offerings.
- Strategic Partnerships and Licensing Agreements: As a clinical-stage biopharmaceutical company, Mind Medicine's future revenue opportunities are also expected to be unlocked through potential partnerships or licensing agreements. The company has been active in securing funding through equity offerings to support its research and development. Successful clinical milestones and regulatory approvals for its drug candidates could lead to lucrative collaborations with larger pharmaceutical companies for commercialization, particularly as the company aims to reduce administrative barriers for adoption and ensure providers are appropriately compensated for their services.
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Share Issuance
- On October 31, 2025, Mind Medicine completed an underwritten public offering of 21,131,250 common shares, resulting in net proceeds of approximately $242.8 million.
- In October 2025, the company announced the pricing of an underwritten public offering of 18,375,000 common shares at $12.25 per share, with expected gross proceeds of approximately $225 million.
- In February 2024, Mind Medicine completed an overnight marketed public offering, raising gross proceeds of $75.0 million.
Outbound Investments
- In February 2021, MindMed completed the acquisition of digital health startup HealthMode.
- MindMed may use a portion of the net proceeds from its October 2025 public offering to invest in or acquire additional businesses or compounds that are complementary to its own, though no current plans or commitments exist.
Capital Expenditures
- Traditional capital expenditures are not readily available in reported financials, with one source indicating "n/a".
- The primary focus of investment, as a biopharmaceutical company, is in Research and Development (R&D).
- R&D expenses were $31.0 million for the third quarter ended September 30, 2025, representing an increase of $13.8 million compared to the same period in 2024, primarily driven by the MM120 program and expanded internal personnel costs.
Trade Ideas
Select ideas related to MNMD. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11142025 | CRL | Charles River Laboratories International | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 21.1% | 21.1% | -3.7% |
| 11142025 | GDRX | GoodRx | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -9.4% | -9.4% | -11.8% |
| 11142025 | ASTH | Astrana Health | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 17.0% | 17.0% | -5.5% |
| 11142025 | SGRY | Surgery Partners | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 3.1% | 3.1% | -1.4% |
| 11072025 | TFX | Teleflex | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 12.2% | 12.2% | -5.1% |
Research & Analysis
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Peer Comparisons for Mind Medicine
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 51.06 |
| Mkt Cap | 159.0 |
| Rev LTM | 56,496 |
| Op Inc LTM | 7,584 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.0% |
| Rev Chg 3Y Avg | 2.6% |
| Rev Chg Q | 9.1% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Mgn LTM | 17.7% |
| Op Mgn 3Y Avg | 16.4% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 20.6% |
| CFO/Rev 3Y Avg | 21.4% |
| FCF/Rev LTM | 18.1% |
| FCF/Rev 3Y Avg | 18.6% |
Price Behavior
| Market Price | $13.46 | |
| Market Cap ($ Bil) | 1.2 | |
| First Trading Date | 03/19/2018 | |
| Distance from 52W High | -5.2% | |
| 50 Days | 200 Days | |
| DMA Price | $12.36 | $9.24 |
| DMA Trend | up | up |
| Distance from DMA | 8.9% | 45.7% |
| 3M | 1YR | |
| Volatility | 67.4% | 75.2% |
| Downside Capture | 169.46 | 152.09 |
| Upside Capture | 195.09 | 197.19 |
| Correlation (SPY) | 33.5% | 43.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.68 | 1.90 | 1.88 | 2.29 | 1.68 | 1.78 |
| Up Beta | 4.02 | 2.82 | 2.60 | 2.81 | 1.62 | 1.58 |
| Down Beta | 0.54 | 1.27 | 1.27 | 2.11 | 1.57 | 1.66 |
| Up Capture | 64% | 209% | 310% | 345% | 337% | 1947% |
| Bmk +ve Days | 13 | 26 | 39 | 74 | 142 | 427 |
| Stock +ve Days | 9 | 21 | 32 | 63 | 124 | 363 |
| Down Capture | 145% | 169% | 126% | 161% | 133% | 110% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 11 | 21 | 31 | 61 | 121 | 374 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of MNMD With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| MNMD | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 90.1% | 13.8% | 16.7% | 65.4% | 7.5% | 4.2% | -7.3% |
| Annualized Volatility | 75.5% | 17.2% | 19.4% | 19.8% | 15.3% | 17.0% | 34.9% |
| Sharpe Ratio | 1.17 | 0.59 | 0.67 | 2.43 | 0.27 | 0.08 | -0.06 |
| Correlation With Other Assets | 23.0% | 43.2% | 1.1% | 14.9% | 24.3% | 28.9% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of MNMD With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| MNMD | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -17.9% | 8.4% | 14.8% | 17.7% | 11.2% | 5.1% | 30.2% |
| Annualized Volatility | 92.9% | 14.5% | 17.1% | 15.6% | 18.7% | 18.9% | 48.6% |
| Sharpe Ratio | 0.20 | 0.40 | 0.70 | 0.91 | 0.48 | 0.18 | 0.57 |
| Correlation With Other Assets | 14.0% | 28.0% | 3.2% | 7.0% | 20.4% | 15.3% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of MNMD With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| MNMD | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 22.8% | 10.1% | 15.0% | 14.6% | 6.9% | 5.4% | 69.0% |
| Annualized Volatility | 19,555.2% | 16.6% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.43 | 0.50 | 0.72 | 0.82 | 0.31 | 0.23 | 0.89 |
| Correlation With Other Assets | -0.1% | -0.3% | -0.2% | 0.3% | 0.4% | 0.5% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2025 | 3.7% | -10.7% | -5.0% |
| 7/31/2025 | -7.2% | 9.9% | -2.3% |
| 3/6/2025 | 3.6% | 1.1% | -13.0% |
| 11/7/2024 | 12.9% | 11.6% | -3.1% |
| 8/12/2024 | -0.9% | -8.0% | -15.5% |
| 5/8/2024 | -5.1% | -5.6% | -24.6% |
| 2/28/2024 | -3.8% | 6.8% | 70.9% |
| 11/2/2023 | 14.4% | -5.9% | 33.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 6 | 3 |
| # Negative | 6 | 7 | 10 |
| Median Positive | 7.9% | 10.7% | 33.7% |
| Median Negative | -5.2% | -6.3% | -12.9% |
| Max Positive | 14.4% | 56.9% | 70.9% |
| Max Negative | -7.6% | -10.7% | -29.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/06/2025 | 10-Q (09/30/2025) |
| 06/30/2025 | 07/31/2025 | 10-Q (06/30/2025) |
| 03/31/2025 | 05/08/2025 | 10-Q (03/31/2025) |
| 12/31/2024 | 03/06/2025 | 10-K (12/31/2024) |
| 09/30/2024 | 11/07/2024 | 10-Q (09/30/2024) |
| 06/30/2024 | 08/13/2024 | 10-Q (06/30/2024) |
| 03/31/2024 | 05/08/2024 | 10-Q (03/31/2024) |
| 12/31/2023 | 02/28/2024 | 10-K (12/31/2023) |
| 09/30/2023 | 11/02/2023 | 10-Q (09/30/2023) |
| 06/30/2023 | 08/03/2023 | 10-Q (06/30/2023) |
| 03/31/2023 | 05/04/2023 | 10-Q (03/31/2023) |
| 12/31/2022 | 03/09/2023 | 10-K (12/31/2022) |
| 09/30/2022 | 11/10/2022 | 10-Q (09/30/2022) |
| 06/30/2022 | 08/11/2022 | 10-Q (06/30/2022) |
| 03/31/2022 | 05/16/2022 | 10-Q (03/31/2022) |
| 12/31/2021 | 03/28/2022 | 10-K (12/31/2021) |
Industry Resources
External Quote Links
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| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.