Marijuana Stocks Could See Better Trading In December
Right now is a good time to find top marijuana stocks to buy. The reason is due to the pullback the cannabis sector is facing. Yet with a great amount of anticaption for the future people are getting prepared. This preparation comes in the form of adding the best marijuana stocks to their portfolios. Now even with the sector dropping once again in the last year, most cannabis stocks are still up overall. Nevertheless with how cannabis stocks are trading now something needs to change.
Many investors want to see the same upward consistency from mid-2020 to early 2021. To which for some time there has been a big lack in upward trading. Those who have been investing in marijuana stocks know that the market has always been unpredictable. However, in recent times there seems to be an increase in volatile trading. With this fast pace of up and down trading, some have been able to turn a profit from it.
But still what every shareholder and investor wants is an increase in momentum. At the start of November, many marijuana stocks were showing strong momentum. This led to what some feel was the first sign of consistent trading in some time. In the opening two weeks of November, cannabis stocks were in recovery mode.
Marijuana Stocks And Market Updates 2021
From the 1st to right around the 14th investors were able to capitalize off this upward push. But due to some hold-ups regarding federal cannabis reform, this created another dip in trading. Even with more time to buy the best marijuana stocks people want to see better trading as a whole. The possible passing of cannabis banking legislation may once again help the sector to climb. Yet until then, many are keeping watch for any opportunities that may occur. As always just do your market research beforehand. Below are a few marijuana stocks to watch this month that could see higher levels.
Top Marijuana Stocks To Watch In 2021
Innovative Industrial Properties, Inc.
Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership, and management of specialized properties. These properties are leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities.
IIPR Stock Market Update And Market Info
IIPR has been one of the few marijuana stocks to not feel the impact of the current downtrend. In the last year, the company has been able to progressively move up in the market. This consistent upward push shows growth potential on top of intriguing other investors. In the last month, alone IIPR stock has been able to see substantial market growth. Now in November towards the end, there was a bit of drop in the companies performance. Nonetheless, IIPR stock is slowing pulling back up and this is a positive sign for the company.
From the start of October to the 29th of November IIPR stock is up 14%. Throughout the month of November, there were some volatile drops and rises. Overall IIPR stock was able to keep its market position at a strong level. This is what many shareholders want to see when investing in the company. As things push into the future the company is showing more progressive movement. With this, it will further continue to bring in more vested people into legal cannabis.
NewLake Capital Partners, Inc.
NewLake Capital Partners, Inc. is a leading provider of real estate capital to state-licensed cannabis operators. Founded in 2019, it is a triple-net lease REIT that acquires industrial and retail properties through sale-leaseback transactions, third-party purchases, and build-to-suit projects. In recent news, the company released its Q3 2021 financial reports. During this time the company revenue more than doubled totaling $8.1 million. Which is in comparison to $3.4 million. As well the company net income attributable to common stockholders totaled $2.7 million or $0.14 per basic and diluted share, as compared to a net loss of $14.6 million.
Another key mention is cash and cash equivalents as of September 30, 2021, which was $167.8 million. Inclusive of proceeds generated from the closing of the Company’s initial public offering in August 2021. As of September 30, 2021, $32.5 million was committed to funding tenant improvements. Also as of September 30, 2021, owned 27 properties across 10 states with 8 tenants. Our properties are located in Arizona, Arkansas, Connecticut, Illinois. In addition to Florida, California, Massachusetts, North Dakota, Ohio and Pennsylvania.
Words From The Company
“In August of 2021, we successfully closed on our IPO for gross proceeds of $102 million,” said David Weinstein, Chief Executive Officer of NewLake Capital Partners. “We recently funded our first post-IPO investment by deploying $30 million to Hero Diversified Associates, Inc. Importantly, this transaction is indicative of our funding flexibility as we uniquely structured a nine-month senior secured loan that converts to a twenty-year sale leaseback, unless a specific provision in the loan agreement is satisfied.”