Closing out the third week of October brings a couple of hot cannabis options
As the years go by, the popularity of marijuana stocks continues to grow more and more. The fact that a large number of states legalize the plant recreationally, medicinally, or both have contributed to this. If it continues in this pattern, research firms expect the industry to expand at a compound annual growth rate (CAGR) of 25.3% from 2022 to 2030. If an investor’s plans are based on finding fast-growing stocks, the cannabis industry could certainly become a smart bet.
Innovative Industrial Properties (IPR) is always at the top of the list of ideal stocks to invest in the marijuana business. This company is a real estate investment trust (REIT) that offers great potential for the future. Its business is essentially focused on the purchase, ownership and management of specialized industrial properties.
In short, the REIT is focused on leasing to state-licensed medical marijuana operators. According to the most recent report, the company has an annual dividend yield of 7.68%.
On the other hand, there is Green Thumbs Industries, a US packaged cannabis products company and retailer. Through its various brands and facilities, the company has carved out a leadership position in the market. It holds licenses for more than 110 retail outlets across 14 states nationwide.
Its footprint in the Florida market is poised to grow after entering into a partnership agreement with Circle K. In detail, Green Thumb will have the ability to lease Circle K’s space in the Sunshine State to further propagate its vast amount of quality products.