Eli Lilly Is Acquiring AtaiBeckley for $2.8 Billion. Cathie Wood Thinks Another Psychedelic Drug Stock Is an Even Better Bet.
The article reports that Eli Lilly is acquiring Atai Beckley for $2.8 billion, and notes that one of Cathie Wood's funds recently sold some ATAI shares while purchasing shares of Compass Pathways.
Why it matters — ATAI watchers would care because the announcement of a major acquisition by Eli Lilly and a prominent investor's move to sell ATAI and buy a competitor could signal a shift in market views on the company's value.