2 Marijuana Stocks To Start A New Week Of Trading
What marijuana stocks will investors watch this week? Right now some of the best marijuana stocks to buy are still showing a fair amount of up and down trading. Yet this is not all bad as when there is some pull back it gives investors a chance to buy the dip. Over the last year, a good amount of multi-state operators have been able to expand operations by setting up stores and facilities in newly legal states. Many of these companies even some pure-play have been seeing more of the upside to volatile trading.
As well some ancillary marijuana stocks that focus on other areas of the cannabis industry other than just cultivation have also seen some better momentum in the last few months. But even with some upward trading over the last month, it’s still such a short moment that not all shareholders are able to take profits. Nevertheless, there are still people who feel the current and future progress of the industry will ultimately lead to sustained upward trading. Even though most marijuana stocks are trading at much lower levels than last year more overall action has occurred for 2022.
The future of the sector seems to be predicated on several factors the first is cannabis legislation both state and federal reform. Many feel the big run will take place once the end of cannabis prohibition takes place in the United States. Now this is not a guarantee as the sector is unpredictable and nothing is set in stone. Still with 2022 more than halfway through much progress has taken place both in and out of the market. Just make sure to do thorough due diligence before investing in cannabis stocks in the market today.
Top Marijuana Stocks To Watch Right Now
Innovative Industrial Properties, Inc.
Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership, and management of specialized properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. This past week the company announced it has expanded its real estate partnership with Green Thumb Industries Inc. Essentially the company has entered into an amended lease agreement.
The lease amendment in Danville, Pennsylvania, provided $55.0 million in reimbursement to Green Thumb. This is for the recently completed development of a 152,000-square-foot industrial building for cultivation and processing. In addition to a new electric substation on the property to enhance electrical load capacity. The lease amendment also adjusted the base rent under the lease to take into account the additional available funding for the development. IIP funded in full the reimbursement, making IIP’s total investment in the 300,000-square-foot property $94.6 million.
Words From The CEO
“We are grateful for the continued partnership with IIP at our Danville facility,” said Green Thumb Founder and Chief Executive Officer Ben Kovler. “Having negotiated the lease and terms last year, we are pleased to have waited to draw the remaining funds until now when the facility is complete. We are excited about the future of cannabis in Pennsylvania.”
The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company Company engages in the manufacture, marketing, and sale of products for lawn, and garden care. Plus indoor and hydroponic gardening in the United States and internationally. During the second week of June, the company announced the appointment of Governor Brina Sandoval to its Board of Directors.
Governor Sandoval served two terms as the 29th Governor of the State of Nevada. Brina Sandoval held office from 2011 to 2019. He is currently the President of the University of Nevada, Reno, a position he has held since 2020.
[Read More] 3 Marijuana Stocks For Your July Watchlist
Words From The Company
“Brian’s long-standing commitment to public service makes him a strong addition to our team. His extensive experience on issues related to economic growth, job creation, natural resources, and judicial matters. As well as higher education will certainly be of value,” said Jim Hagedorn, chairman, and chief executive officer. I also expect Brian to bring fresh perspectives to our discussions. On behalf of all the directors, I am very pleased to welcome him to Scotts.”