Why Mind Medicine Stock Crushed the Market on Friday

A unique stock even among the many distinctive titles that make up the biotech sector, Mind Medicine (NASDAQ: MNMD) reported its second-quarter results after market hours on Thursday. This followed the publication earlier that day of a "value enhancement plan" from a onetime top official at the company. For the quarter, Mind Medicine -- which is still in a pre-revenue stage -- managed to trim its expenses considerably, which certainly helped with investor sentiment on the stock.