On June 30, Innovative Industrial Properties announced its decision to raise additional capital of $225 million through a public offering of its common stock.
We still don’t know how COVID-19 will impact marijuana companies. Their sales will likely keep rising in May if lockdowns and stay-at-home orders continue.
On Wednesday, IIPR reported its fourth-quarter earnings. The company reported revenues of $17.7 million, which beat analysts’ expectations of $14.4 million.
On June 25, Illinois governor J.B. Pritzker signed a bill approving marijuana use for everyone over 21 years old. The law became effective on January 1.
Innovative Industrial Properties, Inc. (IIPR) is the first company to focus on investing in real estate for medical marijuana companies. The company combines investments from investors and purchase real estate. Then, it leases it to companies that produce and sell medical marijuana. The portfolio of the company specializes in cannabis industry sites and greenhouse facilities. […]
Today, the cannabis sector was trading in the red, with multiple ETFs losing ground. Here, we’ll have a look at cannabis stocks that are in the news today.
Since Florida legalized medical marijuana, business is booming. In September, the state had 22 licensed vertically integrated medical cannabis operators.
The cannabis sector has seen a bit of a Jekyll and Hyde situation in 2019. In the first half, cannabis ETFs rose, but in the second half, they plummeted.
After falling for the first two days this week, the cannabis sector maintained that weakness today. Let’s look at some cannabis stocks that are in the news.
Charlotte’s Web Holdings (CWEB) (CWBHF) will report third-quarter earnings before the market opens on November 13. Let’s look at analysts’ expectations.
The cannabis sector’s down despite strong broader-market performance. Between IIPR, Aurora, Canopy Growth, and KushCo, only this one stock is up today.
Canopy Growth (CGC) (WEED) and Cronos Group (CRON) are set to release their earnings next week. The cannabis sector has been on a roller coaster this year.
Innovative Industrial Properties (IIPR) is set to report its third-quarter results tomorrow. IIPR stock, up 67.2% year-to-date, has been investor favorite.
On October 30, Wisconsin lawmakers introduced a bill to decriminalize marijuana possession. Here are five things to know about Wisconsin and legalization.
Innovative Industrial Properties (IIPR), the first real estate investment trust in the medical marijuana segment, used $17 million to buy a cannabis cultivation facility in Florida. IIPR buys and rents industrial warehouses in the cannabis sector. More about the deal On October 23, 2019, IIPR bought a 120,000-square-foot property with five-building cultivation establishment for $17 […]
A recent Gallup poll data found that nearly 66% of Americans support making cannabis legal. However, this figure was the same as in 2018. This suggests a standstill in the rise in support of cannabis legalization. Moreover, nine states will be voting in 2020 on measures to allow cannabis for recreational or medical use. The […]
When May 1, 2020, rolls around, you’ll won’t be able to smoke hemp in North Carolina legally. Just yesterday, the North Carolina House passed the North Carolina Farm Act with revisions to restrict smokable hemp. Why was it banned? The smokable hemp ban was widely supported by law enforcement agencies. Law enforcement officers might find […]
Last week, the overall cannabis sector remained subdued. Sector ETFs, such as the Horizons Marijuana Life Sciences ETF (HMMJ), closed about 8.15% lower.
The markets were flat today as the Fed started its two-day meeting. Cannabis ETFs reported mixed performance, and cannabis stocks traded mostly in the red.
Although the broader equity market was flat, most of the cannabis stocks were trading in the red, as Aurora Cannabis fell 1.2% and Canopy Growth slid 2.2%.
The cannabis industry has become a favorite among investors. The industry saw a boom due to easing regulations. Major players have shown growth potential.
President Trump hasn’t shared his views on marijuana yet. However, the US 2020 election is heating up. Many Democratic candidates have chosen marijuana legalization as a political platform. President Trump and the 2020 presidential election Some of the candidates have shared their views on marijuana legalization. Recently, we discussed what Bernie Sanders said about marijuana. […]
In its Q2 earnings report today, Tilray reported a 371% YoY revenue increase to $45.9 million. Tilray beat analysts’ estimate of $41.1 million in revenue.
Generally speaking, the cannabis sector’s valuations have taken a hit due to weak earnings. Recently, Aphria (APHA) posted better-than-expected earnings.
Yesterday, HEXO (HEXO) ended the day about 4.5% lower after Oppenheimer cut the company’s ratings to “perform” from its previous “outperform” rating. HEXO was one of the best performers among the Canadian cannabis companies with a YTD return of 53%, which is still impressive when compared with Tilray (TLRY), which is in the negative territory YTD.
Innovative Industrial Properties has consistently traded at a premium to the peer median since August 2018. Currently, the company’s forward EV-to-sales multiple is trading at 20x.
Innovative Industrial Properties (IIPR) has seen some of the strongest momentum in June. The stock has gained almost 54%. On June 25, the stock rose 5.9%.
As of June 21, Aurora Cannabis was trading at 13.9x. Over this period, the peer median was also trading lower at 5.8x, which was almost 9.5% lower than our previous update. Thus, Aurora Cannabis has been pretty resilient compared to its peers.
Innovative Industrial Properties’ forward EV-to-sales multiple increased to 20.8x in June. The stock was trading at a significant premium to the peer median of 5.8x.
The forward EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) of the peer median stood at 18.5x as of May 22.
On April 17, Tilray (TLRY) remained muted, with the stock almost flat as of noon. The stock remained depressed as the overall cannabis industry has slumped in April.
