How to Buy Numinus Wellness Stock [2023]

Summary: Numinus Wellness, the trailblazer in the psychedelic therapy field, trades on the Toronto Stock Exchange under the ticker NUMI, which means you can easily buy Numinus stock with online brokers like Interactive Brokers.

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About Numinus Wellness

Numinus Wellness Inc. (TSX: NUMI) is a Vancouver-based holistic mental health company that develops and offers psychedelic-assisted psychotherapy.

The firm operates under three main umbrellas: Research Operations, the Canadian Clinic Network, and the US Clinic Network. While Research Operations zeroes in on laboratory services, including psychedelic cultivation, analytical testing, and product R&D, the Clinic Network offers a spectrum of services, encompassing psychotherapy, counseling, neurofeedback, and physiotherapy, all aimed at mental wellness and addiction treatment.

Numinus went public in May 2020 through an initial public offering (IPO) and is listed on the Toronto Stock Exchange (TSX) under the symbol NUMI.

How to buy Numinus Wellness stock: Step-by-step process

Here’s a brief guide to buying Numinus Wellness stock:

Opt for an online broker;
Register and fund your account;
Buy Numinuss Wellness stock;
Monitor your stake in the company periodically.

Step 1: Choose a broker

To secure Numinus Wellness stock, select a trustworthy online broker with access to the TSX.

From our evaluation, Interactive Brokers emerges as a top choice for investing in NUMI. It also offers the following features:

Commission-free stock trading;
Global stock-trading on 90+ market centers;
Fractional shares available;
Extra income on fully paid shares;
Lowest financing rates for margin accounts in the industry;
No account minimum.

Best Platform for Worldwide Stock Trading & Investing

Highly trusted multi-asset broker with clients in over 200 countries
Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)
Low commissions starting at $0 with no platform fees or account minimums
Easily fund your account and trade assets in 26 currencies
IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

Get Started

For investors looking to broaden their horizons beyond just Numinus Wellness or eager to delve deeper into the world of psychedelic stocks, here are some leading companies in the psychedelic sector worth considering:

Cybin (NYSE: CYBN);
Seelos Therapeutics (NASDAQ: SEEL);
Compass Pathways (NASDAQ: CMPS);
GH Research (NASDAQ: GHRS);
Mind Medicine (NASDAQ: MNMD).

Each of these companies brings a unique perspective to the psychedelic medicine space, making them promising additions to a diversified investment strategy.

How to choose the best online broker?

When assessing brokers, take into account the following factors:

Available products: Ensure they cover the TSX and, in particular, NUMI;
Pricing: Understand the fee layout and watch out for hidden charges;
Regulatory and security: Confirm they’re regulated by the relevant financial bodies and have appropriate measures in place to protect your data and funds;
Fractional shares: Ensure the broker allows fractional share investments, a blessing for investors on a budget or those wanting to implement a dollar-cost averaging strategy.

Step 2: Open and fund your account

After deciding on a broker, sign up on their platform., providing required personal details for verification. Next, deposit funds, selecting from various options like bank or wire transfers, card payments, or third-party services like PayPal.

With funds in place, you’re investment-ready.

Step 3: Invest in NUMI

Follow these steps to invest in NUMI:

Search for Numinus Wellness using the ticker NUMI;
Choose your order type: market (immediate execution) or limit (executes at a specific price);
Specify investment amount;
Review and confirm the order.

Step 4: Keep tabs on your investment

Here’s a brief guide to help you keep track of your Numinus investment:

Company updates: Regularly check Numinus’s official website, especially the ‘Investor Relations’ section, for any press releases, financial statements, or strategic announcements;
Set up alerts: Utilize tools like Google Alerts to receive news related to “Numinus Wellness” or other related keywords;
Brokerage tools: Leverage the analytical tools and dashboards provided by your broker. These often include charts, performance metrics, and other key indicators specific to the stock:
Sector trends: Stay informed about the broader psychedelic medicine and mental health sectors, as developments in these areas can impact Numinus’s performance;
Financial reports: Review Numinus’s quarterly and annual financial reports. This will give you insights into the company’s earnings, expenses, growth strategies, and future outlook;
Set price alerts: On your brokerage or financial app, set up price alerts for NUMI to be informed of significant price movements;
Stay educated: Psychedelic medicine and mental health care are rapidly evolving fields. Dedicate time to understanding new research, regulatory changes, and overall industry shifts.

Numinus Wellness stock price today

Pros and cons of investing in Numinus Wellness

Pros

Emerging market potential: The psychedelic therapy industry is in its early stages, and there’s considerable interest in its potential for mental health treatment. Companies like Numinus stand to benefit from this growth;
Diversified operations: The company operates across different areas, from research to therapy, providing multiple potential revenue streams;
Positive regulatory changes: As countries and states become more receptive to psychedelic treatments, this could open up larger markets for Numinus.

Cons

Regulatory hurdles: Then again, the psychedelic sector still faces significant regulatory challenges. Changes in regulation can impact the company’s ability to operate or expand;
Competition: As the psychedelic medicine industry grows, so does the competition. Numinus will need to differentiate itself from other players continuously;
Profitability concerns: Like many companies in emerging industries, Numinus may face challenges in achieving and maintaining profitability;
Clinical trials and approvals: The efficacy and safety of treatments need to be proven in clinical trials, which carry inherent risks. Any negative outcomes can affect the stock’s value.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy Numinus Wellness stock

When did Numinus Wellness go public?

Numinus Wellness went public on the TSX in 2020.