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Palantir Bioceuticals (OTCMKTS:IFAN) Stock Gains Momentum As Company Changes Name and Business Model

Madison Hall , , , ,

Palantir Bioceuticals (OTCMKTS:IFAN) on May 16, 2022, filed for a name change to better position the firm to give natural solutions in the mental health industry. Allied Market Research has estimated the global mental health market at $383 billion in 2020. It is anticipated that the market will reach $537 billion by 2030, registering a CAGR of 3.5% from 2021 to 2030.

Market Stats     

On Monday, IFAN stock moved up 7.70% to $0.0014 with more than 1.74 million shares, compared to its average volume of 7.49 million shares. The stock moved within a range of $0.0012 – 0.0014 after opening trading at $0.0013.

Palantir Bioceuticals Changes Name and Business Model To Provide  Natural Alternative To Big Pharma Drugs

As per the Substance Abuse and Mental Health Services Administration, about 19.86% of adults are experiencing mental illness, which is about fifty million. From this, close to 5% are experiencing severe mental illness. The Boston University School of Public Health estimates that one in three Americans suffer from depression. Traditional treatments for mental illness are antidepressants, sleeping pills,and minor tranquilizers. However, these have anextensive list of side effects.

The Johns Hopkins Center for Psychedelic and Consciousness Research is spearheading to explore innovative treatments using psilocybin. Committed to transforming mental health through medical real estate properties and leasing to management firms, Palantir Bioceuticals is committed to natural health and psychedelic psychotherapy.

A biopharmaceutical company giving holistic solutions to mental health illnesses, the company harnesses radical innovation called psychedelic-assisted psychotherapy. The firm usesholistic plant-based medicine that has been in use for thousands of years, with state-of-the-art technology for providing a novel experience for patients.

Traders Corner

IFAN stock is trading below the 20-Day and 50-Day Moving averages of $0.0015 and $0.0017 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0101. 

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.