there’s a new psychedelics company being added to an etf from cathie wood what happened the ark genomic revolution etf bats arkg took an initial position in shares of psychedelics company atai life sciences nasdaq atai tuesday the etf purchased 83278 shares of atai representing around 001 of assets in the fund the stock ranks in the lowest position of the 53 stocks owned by the etf atai was the third psychedelics company to go public with an ipo in june 2021 following mind medicine inc nasdaq mnmd and compass pathways nasdaq cmps atai is developing treatment options for mental health disorders with 10 programs in its pipeline related link benzinga asks which ark fund would you rather buy why it’s important the ark genomic etf is one of the most wellknown funds in the biotech sector despite being down 34 over the last year the etf is still up over 39 over the last three years atai is backed by peter thiel the cofounder of palantir technologies nyse pltr wood is heavily invested in palantir with the stock making up a 26 stake in the flagship ark innovation etf nyse arkk with a 313 million position neither mind medicine of compass has been added to arkg suggesting atai could be the preferred psychedelics play by the etf manager atai also owns a stake in compass which could make it a way to play the success of both companies price action atai shares are up 14 to 575 on wednesday for more on psychedelics stocks check out the first benzinga psychedelics capital conference live in miami florida on april 19 2022