Tryp Therapeutics Inc (OTCMKTS:TRYPF) Stock Attempts To Recover: Now What?

Tryp Therapeutics Inc (OTCMKTS:TRYPF) opened higher on Thursday. The stock has fallen over 43% so far this year.

Market Action

As of 11:30, TRYPF stock jumped 5% at $0.4450. The stock has traded 70K million shares, compared to  its average volume of 74k shares.  The stock opened at $0.4315 and moved in a range of $0.4110 – 0.4860.

Major Trigger:

Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) Charting Its Own Course in Psychedelic Space

Key Highlights:

• today announces its placement in an editorial published by NetworkNewsWire (“NNW”), one of 50+ trusted brands within the InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company for private and public entities.
• To view the full publication, “GW Pharma Sells for Bilions; Psychedelic Company Following Similar Path,” please visit: https://nnw.fm/0N5t5
• In May 2013, GW Pharma listed on Nasdaq, selling 3.5 million shares at $8.90 each to investors betting that GW was charting a profitable course as a biotech developing new drugs from cannabis-derived compounds. Legal cannabis was only beginning to gain momentum at that time, and while countless companies saturated the market as would-be growers, distributors, etc., GW was taking a more difficult route of drug development with much greater upside if successful. The strategy paid off as the company received FDA approval for the first-ever cannabis-based drug in June 2018.
• There are some notable similarities between the evolution of the legal cannabis market a decade ago and the current status of psychedelics, longtime illicit drugs that are now being evaluated for their therapeutic potential by a handful of upstart companies. San Diego-based Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) stands out, not only for its still-small valuation but also because it has a successful management team that, much like GW, is charting its own course in the space.