Is the Axsome Therapeutics stock price influenced by the performance of cryptocurrencies?

1 answers

• May 05, 2022 · 3 years ago
  According to our analysis at BYDFi, there is a moderate correlation between the performance of cryptocurrencies and the stock price of Axsome Therapeutics. While it's not a direct cause-and-effect relationship, we have observed that during periods of significant cryptocurrency market movements, there tends to be some impact on the stock price of Axsome Therapeutics. This can be attributed to the overall market sentiment and investor behavior. However, it's important to note that the stock price of Axsome Therapeutics is also influenced by other factors such as company-specific news, industry trends, and macroeconomic conditions. Therefore, it's crucial to consider a holistic approach when analyzing the stock price dynamics of Axsome Therapeutics.
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