[Editor’s note: This story was originally published May 2018. It has since been republished and updated due to the developments from the Farm Bill. At least one stock has been removed from this list.]
When it comes to cannabis, we’ve come a long way since former President Bill Clinton denied ever inhaling. With the previous presidential administration’s frankness on the matter, marijuana has become more blasé. Naturally, marijuana stocks have also increased in popularity, where we have more choices today than was previously thought possible.
Of course, cannabis raises all kinds of images, and usually not positive ones. However, since legalized marijuana entered the mainstream consciousness, “green” companies offer a wide variety of services. For instance, some of the top marijuana stocks are levered toward medical cannabis. Recently, several companies have advantaged the vaporizer craze, offering a digital means to enjoy weed.
The obvious risk to this industry, though, is the legal basis. Despite a record number of states adopting legalization measures, the federal government still considers marijuana a Schedule I drug. Technically, the feds could crack down on the industry, and by logical deduction, the growing list of marijuana companies. That said, investors will likely only have to worry about market risk.
First, putting a top on the industry will derail job growth. With President Donald Trump having few political allies, he desperately needs his economic cred. Doing anything to harm employment (no matter the source) is not part of that strategy. Second, American public sentiment dramatically favors legalization. As of October 2017, 64% of Americans believe weed should be legalized, as opposed to 34%. This is an exact public-opinion reversal from 14 years prior.
In other words, the future for the massive list of marijuana stocks is bright, and will only get brighter. Here are the top 29 sector picks:
#1 List of Marijuana Stocks: AmeriCann Inc (ACAN)
Critics can’t deny it — the marijuana industry is booming. Currently, 30 states allow cannabis for medicinal purposes, while nine permit recreational use. Only four states are completely draconian. As a result, numerous entrepreneurs have raced into this sector hoping to strike it rich.
But where does one get advice on an unprecedented industry? That’s where AmeriCann Inc (OTCMKTS:ACAN) comes in. Primarily a real estate and facilities services company, AmeriCann offers logistical and administrative support for “weedpreneurs.” In addition, ACAN has a licensing procurement division that specializes in winning lucrative cannabis licenses for their clients.
Like many top marijuana stocks, ACAN experienced volatility under the Trump administration. However, with key members backing away from their initial “law and order” stance, AmeriCann has demonstrated nearer-term momentum. Since the beginning of April, ACAN jumped over 61%.
Look for AmeriCann to continue delivering the goods as the industry grows.
#2 List of Marijuana Stocks: Aurora Cannabis Inc (ACBFF)
America isn’t the only country that has made cannabis great again. Our friendly neighbor to the north has also dived into the botanical sector, as Canadian firm Aurora Cannabis Inc (OTCMKTS:ACBFF) proves.
Focusing on the industry’s medicinal side, Aurora specializes in delivering medical-grade cannabis products at affordable prices. True to their corporate ethos, Aurora offers flat-rate “compassionate” pricing, along with free shipping within Canada. Just as importantly, the company has a vast network of pro-cannabis medical doctors that patients can contact.
Similar to the long list of marijuana stocks, ACBFF got off to a rocky start in 2018. Year-to-date, shares are down nearly 28%. That’s the bad news. The good news is that since early April, ACBFF has stabilized.
Could this be the calm before the breakout storm? Given the overall enthusiasm toward this sector, don’t count out ACBFF.
#3 List of Marijuana Stocks: American Cannabis Company Inc (AMMJ)
Starting a cannabis-related business can be a daunting task, particularly because few blueprints exist. American Cannabis Company Inc (OTCMKTS:AMMJ) makes this journey much more manageable. A consulting firm, American Cannabis is essentially an all-in-one shop for the budding entrepreneur.
Need help with license application and establishing your market? How about setting up a cultivation plant? American Cannabis levers multiple years of experience helping marijuana companies grow from the ground up. In addition to the setup phase, AMMJ offers branding and marketing services, as well as staffing solutions.
As an investment, AMMJ is on the more speculative side of the industry. That said, shares have relatively stabilized since early February. It’s definitely a risk, but one that’s potentially worth taking thanks to the increasingly positive sentiment.
#4 List of Marijuana Stocks: Aphria Inc (APHQF)
It’s no surprise that cannabis investments, even those regarded as top marijuana stocks, are extremely speculative. Usually, these companies trade on the potential for future earnings. Otherwise, looking at their current financials would have most investors running for the hills.
But every now and then, a pure marijuana play that isn’t a fiscal train wreck comes along. That anomaly is Aphria Inc (OTCMKTS:APHQF). Specializing in greenhouse-grown medical cannabis, Aphria generates substantive revenue growth. Over the past three years, sales have ballooned over 3,200%. Not only that, its last two years produced positive net income.
Aphria’s speculative portion comes in its market performance. On a YTD basis, APHQF hemorrhaged nearly 44%. That said, I’m really digging the company’s financial performance, which is only becoming more promising.
In this case, I say ignore the volatility and pick up some APHQF on the cheap.
#5 List of Marijuana Stocks: General Cannabis Corp (CANN)
In a relatively young industry such as cannabis, conducting business as a holding company levers significant benefits. General Cannabis Corp (OTCMKTS:CANN) has multiple subsidiaries, each with a unique specialty. This structure enables General Cannabis to branch out, while still maintaining a stable balance sheet.
So far, the data is encouraging. Over the last four years, top-line sales shot up nearly 1,400%. In the most recent quarter, revenues increased by a 27% margin against the year-ago quarter. Just as importantly, General Cannabis doesn’t dip into debt too often to finance its operations.
Admittedly, though, the company’s market performance leaves a lot to be desired. On a YTD basis, CANN has lost 75%.
With so much taken off, now might be an ideal time to bet with the gambling portion of your portfolio!
#6 List of Marijuana Stocks: CV Sciences Inc (CVSI)
A pharmaceutical company specializing in cannabidiol‐based medicine, CV Sciences Inc (OTCMKTS:CVSI) is currently seeking regulatory approval for their alternative therapies. In a sector that pumps out exotic concoctions, CV Sciences embracing medicine’s natural component is a breath of fresh air.
More importantly, for investors, CVSI stock is raising a lot of eyebrows, and for the right reasons. Shares are up a respectable 14.4% YTD, making CVSI one of the top marijuana stocks. Much of that bullish sentiment came during the first half of April, and much upside likely remains.
From four years ago, CV Sciences has more than doubled revenues. Moreover, its most recent quarter was a massive success, with top-line sales skyrocketing more than 125%. Not coincidentally, net income was finally in the black for that quarter.
The list of marijuana stocks is paved with potential. CV Sciences, however, is already delivering the goods.
#7 List of Marijuana Stocks: Cara Therapeutics Inc (CARA)
Stability isn’t a term often associated with the vast list of marijuana stocks. Multiply that sentiment five-fold with biotechnology firms. Cara Therapeutics Inc (NASDAQ:CARA) has found a way to be both, yet not act like it in the markets.
On a YTD basis, CARA shares are down just 2.3%. This might as well be considered a winner considering how ugly the sector has been this year. Not only that, this paring of losses is inclusive of a recent 7% drop-off.
However, I think CARA has something to offer for speculators with a longer-term view. The biotech firm has exciting drug pipelines, including research on cannabinoid receptors for pain suppression. In addition, management maintains a fairly clean balance sheet with zero debt.
#8 List of Marijuana Stocks: Cannabis Science Inc (CBIS)
Cannabis Science Inc (OTCMKTS:CBIS) is easily one of the riskiest plays within this list of marijuana stocks. With a share price fewer than six cents, CBIS stock isn’t what your financial advisor would recommend in your retirement portfolio.
But with that caveat out of the way, CBIS does have huge upside potential. Thanks to the combination of a small share price and an emerging industry, CBIS can shoot up at random. Of course, the opposite is also true, so you’ll want to honestly assess your risk tolerance.
However, I believe Cannabis Science is more likely to pleasantly surprise. First, it’s one of the oldest cannabis companies still in business. Second, management is hard at work on developing cannabis-based therapies for wide-ranging diseases.
Finally, with CBIS stabilizing in the markets recently, speculators have an opportunity to strike.
#9 List of Marijuana Stocks: Peak Pharmaceuticals Inc (PKPH)
Although most companies produce cannabis products for human consumption, your household pets might appreciate some botanical love as well. At least that’s what Peak Pharmaceuticals Inc (OTCMKTS:PKPH) would have you believe, and they’re probably onto something.
Peak Pharmaceuticals has an exclusive license agreement with Canna-Pet, LLC, giving Peak access to animal cannabis products. A State of the American Pet survey revealed that 41% of pet owners are open to alternative therapies for their four-legged friends. Should cannabis for humans take off, it’s only natural that the pet sector would experience similar bullishness.
As with other marijuana stocks, PKPH is incredibly speculative. With a 10-cent share price, Peak Pharmaceuticals doesn’t exactly inspire confidence. However, PKPH has been steadily rising since August, so a massive rally isn’t out of the question.
#10 List of Marijuana Stocks: GreenGro Technologies, Inc. (GRNH)
I typically don’t like to talk about companies with shares prices literally in the pennies. These are often riddled with fundamental vulnerabilities, and will more likely lose money than gain. And on a surface level, GreenGro Technologies, Inc. (OTCMKTS:GRNH) doesn’t move against the grain.
So why am I talking about GRNH among my list of marijuana stocks? Through its subsidiaries, GreenGro specializes in hydroponic grow rooms. As the American public becomes increasingly favorable to marijuana initiatives, demand for advanced grow rooms should skyrocket. In addition, the company specializes in other turn-key facility solutions.
On the technical side this year, GRNH suffered tremendously. Nevertheless, GRNH appears to have found a bottom. With any luck, we could see GreenGro stage a recovery rally later this year.
#11 List of Marijuana Stocks: GB Sciences Inc (GBLX)
Medicinal cannabis applications typically mask patients’ syndromes, but have yet to decisively cure ailments and diseases. GB Sciences Inc (OTCMKTS:GBLX) would like to take a crack at using cannabis to treat serious conditions.
Last month, GB Sciences announced a clinical trial to treat early to moderate Parkinson’s disease using its proprietary cannabis therapy. Moreover, this will be the first such study involving human test subjects. The implications are obvious. Should GB Sciences extract promising results, it could upend the pharmaceutical industry.
Currently, GBLX stock trades at 58 cents, with shares losing 81% YTD. Still, this company is one of the few cannabis-based pharmaceuticals that’s making significant headway. Don’t be surprised if GBLX takes the market by storm, especially if their clinical trials are successful.
#12 List of Marijuana Stocks: Hemp Inc (HEMP)
Although it’s on my list of marijuana stocks, I must stress that Hemp Inc (OTCMKTS:HEMP) is not a marijuana company. Often used interchangeably, both hemp and marijuana originate from the cannabis plant, but that’s where the similarities end. Primarily, hemp has very little THC content, and thus is not psychoactive.
This distinction has significant implications toward legal matters. Recently, the very conservative state of Oklahoma legalized hemp, becoming the 37th state to do so. Such legislative tailwinds boost firms like Hemp Inc, which specializes in the cannabis-derivative. Moreover, hemp-legalization increases agricultural revenues and employment opportunities.
In the markets, HEMP stock has been admittedly weak this year. But don’t overlook the fact that since early February, HEMP has formed a rising trend line. Priced under three cents, it’s a very speculative risk, but one that has significant potential.
#13 List of Marijuana Stocks: India Globalization Capital, Inc. (IGC)
Many investors don’t like gambling money on companies with disparate businesses. But for India Globalization Capital, Inc. (NYSEAMERICAN:IGC), I’m willing to give it a pass. India Globalization’s primary revenue-generator is its legacy infrastructure business. However, its increasingly shifting its focus towards medicinal cannabis, and for good reason.
More pharmaceuticals today are at least willing to give cannabis a second look as a legitimate therapy. IGC has clinical trials prepared for cannabis-derived treatments for seizures, epilepsy and Alzheimer’s disease. In addition, IGC developed phytocannabinoid therapies to alleviate seizures in dogs and cats.
Like several other sector names, including top marijuana stocks, IGC fell on lean times this year. That said, IGC may have bottomed recently. It’s a big risk, but IGC’s diversified portfolio could even out some of the volatility.
#14 List of Marijuana Stocks: InMed Pharmaceuticals Inc (IMLFF)
As with many other names on my list of marijuana stocks, InMed Pharmaceuticals Inc (OTCMKTS:IMLFF) integrates cannabis towards disease treatments. What makes InMed stand out is their approach. Rather than a “brute-force attack,” InMed developed a proprietary bioinformatics assessment tool. This technology allows them to find specific cannabis strains that therapeutically impact specific diseases.
This is the next-level in cannabis-based pharmaceuticals, and could potentially launch industry-wide adoption. For the immediate future, InMed has three drugs in its pipeline set for clinical trials. With favorable legalization tailwinds — particularly with medicinal cannabis — InMed offers an enticing opportunity.
With that said, IMLFF is extremely choppy. The spread between the highs and lows of this year is a whopping 259%! But if you can stomach the unreal turbulence, IMLFF could pleasantly surprise investors later this year.
#15 List of Marijuana Stocks: Indoor Harvest Corp (INQD)
With so many people huddled into major metropolitan areas, the future of marijuana is in advanced cultivation techniques. Specifically, companies that can facilitate “home growth” should find massive demand now that marijuana legalization is the dominant trend. To that end, Indoor Harvest Corp (OTCMKTS:INQD) allegedly has the solution.
I say allegedly because Indoor Harvest doesn’t reveal much about themselves. But according to their Form 10-K filing, Indoor developed a high-pressure aeroponic process that doesn’t require soil. If that’s indeed the case, the company could revolutionize the recreational marijuana industry.
Of course, if you buy INQD, you’re buying its potential, and potential only. Indoor Harvest not only didn’t earn income, but it didn’t even generate revenue. It does appear, though, that INQD has bottomed.
Again, it’s a massive risk, but it just might pay off given the positive sentiment towards this sector.
#16 List of Marijuana Stocks: Kaya Holdings Inc (KAYS)
To this day, marijuana invokes negative associations. We often imagine unsavory characters conducting back-alley deals. But enter into any Kaya Holdings Inc’s (OTCMKTS:KAYS) Kaya Shack retail store, and you won’t initially find anything remiss. If it weren’t for the several kush rows, you’d think you’re at any other trendy shop.
What we may be witnessing is an evolution in marijuana marketing. Rather than a medium for merely getting stoned, Kaya Holdings demonstrates that cannabis users come in all shapes and sizes. Even if you don’t inhale, you have to admit that Kaya Shack appears innocuous.
Moreover, Kaya will soon introduce a marijuana delivery service for legally permissible areas. Again, this is the next step in marijuana evolution, where sector names offer the same services found in traditional businesses.
Like other marijuana stocks, KAYS is a risky venture. But with newfound technical stability, it does have significant upside potential.
#17 List of Marijuana Stocks: Lifestyle Delivery Systems Inc. (LDSYF)
As I’ve shown in my list of marijuana stocks, cannabis isn’t necessarily a “vice investment.” In addition, the medium of consumption doesn’t have to involve rolling a joint. Thanks to cannabis innovations, many people enjoy the maligned plant’s benefits without anyone being the wiser.
Case in point is Lifestyle Delivery Systems Inc. (OTCMKTS:LDSYF). One of Lifestyle Delivery’s top products is CannaStrips, a medium very similar to breath strips. The only difference, of course, is that CannaStrips only have a modest impact to bad breath, if any.
All joking aside, CannaStrips allow medicinal-marijuana patients to consume cannabis in controlled doses. More importantly, this product bypasses the need for smoking (combusting) marijuana, and therefore, this process’ inherent health risks.
As you can imagine, LDSYF is a speculative investment and you should invest at your own peril.
#18 List of Marijuana Stocks: Lexaria Bioscience Corp (LXRP)
Medical researchers continue to find new therapeutic uses for cannabis, brightening the future for the entire industry. Lexaria Bioscience Corp (OTCMKTS:LXRP) is one of this sector’s top innovators, specializing in digestive aids.
According to their website, the human gastrointestinal system has difficulty ingesting certain vitamins, drugs and supplements. Their DehydraTECH technology allows patients to better absorb these substances effectively and with minimal discomfort. In turn, DehydraTECH is specially designed to facilitate cannabinoid delivery.
LXRP is one of the more stable marijuana stocks in the markets. Since April 4, LXRP has skyrocketed 30%-plus. As one of the more promising sector names, Lexaria could become a breakout hit.
#19 List of Marijuana Stocks: Medical Marijuana Inc (MJNA)
Medical Marijuana Inc (OTCMKTS:MJNA) is literally a company of firsts. In 2009, Medical Marijuana became the first publicly-traded cannabis company in the U.S. A year later, they pioneered the direct-sales business model for weed products. A little bit down the road in 2012, MJNA became the first company to introduce cannabinoid foods and supplements to the mainstream retail market.
As a result, no list of marijuana stocks is complete without mentioning Medical Marijuana Inc. But unlike what others might do in their situation, MJNA isn’t resting on its laurels. Instead, the company has been very acquisitive over the years, building a robust business portfolio. Furthermore, they’re expanding internationally as legalization sentiment crosses borders.
Currently, MJNA is stuck in a consolidation phase. Shares haven’t moved much since the beginning of February. However, this might be an ideal opportunity to get in before the wave.
#20 List of Marijuana Stocks: Mentor Capital Inc (MNTR)
Undoubtedly, one of this sector’s toughest barriers to entry is funding. Most mainstream banks and financial institutions won’t touch cannabis companies for completely understandable reasons. Because cannabis falls under the Schedule I classification, the federal government could crackdown at any moment. It’s an underlying risk that sends shivers to bankers.
Thankfully for “weedpreneuers,” Mentor Capital Inc (OTCMKTS:MNTR) has a much more open mind. Through its unique incentive structure, Mentor provides smaller cannabis companies necessary funding. But what makes Mentor different from its competitors is that it leaves total operating control to the client-company founders. It’s a refreshingly symbiotic relationship, especially in this business.
Admittedly, MNTR witnessed sharp losses on a YTD basis. However, shares have recently stabilized, providing hope for a future comeback.
#21 List of Marijuana Stocks: Medicine Man Technologies Inc (MDCL)
Thanks to ever-increasing technologies and innovations, the marijuana industry is one of the most dynamic. However, that could be a double-edged sword. On one hand, you enjoy a plethora of opportunities. But on the flipside, choosing a subsector is exceptionally challenging.
Medicine Man Technologies Inc (OTCMKTS:MDCL) took the simplest approach: when in doubt, do all of them. As a consulting firm, Medicine Man hits on virtually every corner of the weed business. From licensing and application support to maximizing cultivation output and turnkey facility solutions, the company offers critical services to marijuana entrepreneurs.
What makes MDCL more compelling than many of its competitors is that we’re seeing substantive financial results. Revenue growth has exploded sequentially over the past five quarters. Not surprisingly, its fiscal 2017 sales haul dwarfed the prior three years.
Don’t get me wrong: MDCL is still a speculative play, but it certainly deserves consideration.
#22 List of Marijuana Stocks: Novus Acquisition & Development Corp. (NDEV)
Financial institutions aren’t the only mainstream organizations that take a dim view of marijuana. Several health insurance companies refuse to cover costs associated with cannabis treatments and therapies. Cynically, I may add that insurance-providers don’t benefit much from non-pharmaceutical endorsed solutions. Either way, marijuana-therapy patients are left with sizable bills.
To address rising costs associated with cannabis care, Novus Acquisition & Development Corp. (OTCMKTS:NDEV) offers the first marijuana-based health plan. Novus doesn’t just stop at common medical applications, either. They offer comprehensive plans for hemp and cannabidiol, alternative therapies, even dental and optical coverage.
But what I’m really intrigued about Novus is its pioneering spirit. As the marijuana industry continues to boom, you can expect similar business to sprout in the future.
#23 List of Marijuana Stocks: PotNetwork Holdings Inc (POTN)
Although not necessarily a household name, PotNetwork Holdings Inc (OTCMKTS:POTN) owns some of the top brands in the sector. Primarily, PotNetwork’s claim to fame is its “Blue CBD Crystals Isolate,” which is a cannabidiol extract. In addition, you (or your “friend”) may recognize Chill Plus Gummies, the hemp-derived treat.
But what I’m most excited about is their vaporizer products, which include vape liquids and portable vape pens. Vaporizers have exploded in popularity thanks to their cleaner delivery system. Likewise, pot smokers can derive the same benefits with the digital platform. In my opinion, it’s virtually an inevitability that the weed industry will shift towards the vaporizer medium.
Marijuana stocks are incredibly volatile, and POTN is no different. Since January-end, shares hemorrhaged a staggering 65%. However, the downfall sets up an enticing opportunity as most of the bearishness is likely priced in.
#24 List of Marijuana Stocks: Rocky Mountain High Brands Inc. (RMHB)
Ordinarily, beverage-makers aren’t the best place to put your money. Competition is extraordinarily fierce, and minnows are easily swallowed up by the stalwarts in the business. But if you have some gambling funds you want to play with, take a look at Rocky Mountain High Brands Inc. (OTCMKTS:RMHB).
Rocky Mountain’s claim to fame is its hemp-infused energy drinks. The potential upside opportunity lies within its competitors’ ingredients, which are often sugar-saturated. Rocky Mountain drinks provide a clear consumer alternative, which might play out given favorable sentiment.
That said, I’m not entirely sold on RMHB stock. Currently, shares trade for less than two pennies, which of course raises eyebrows. If you acknowledge the risks ahead of time, though, RMHB just might surprise you.
#25 List of Marijuana Stocks: Supreme Cannabis Company Inc (SPRWF)
In most cases, you want to avoid over-the-counter equities, particularly those trading around a buck or less. However, the marijuana industry is unlike any other investment sector. And the one country that’s going to lead us out of modern-day Prohibition is not the U.S., but Canada.
Yes, we get all the attention thanks to our international top-dog status. However, Canada is on track to legalize recreational marijuana throughout its territory later this summer. In addition, demand accelerated exponentially. Canadians love pot more than they love wine, apparently.
That’s why I’m not opposed to considering Supreme Cannabis Company Inc (OTCMKTS:SPRWF). Is it speculative? Like you wouldn’t believe. Will I get ulcers watching shares gyrate in the markets? Definitely.
But the future of marijuana has its first extended stay up north. Therefore, even a gamble like SPRWF makes rational sense.
#26 List of Marijuana Stocks: Surna Inc (SRNA)
On my list of marijuana stocks, I discussed a few consulting firms that offer facility services as one of their many specialties. What makes Surna Inc (OTCMKTS:SRNA) distinct from the competition is that facilities are their primary focus. Not only that, they have their craft down to a science.
Utilizing a proprietary engineering algorithm, Surna accurately blueprints grow-space buildings before breaking ground. While not a sexy concept, Surna helps its clients save considerable money. This is especially important in an industry where funding opportunities are sparse and every dollar counts.
Like its peers, however, SRNA has already witnessed wild swings this year. But after a big boost in early April, SRNA has settled into a tight range.
It’s not a retirement stock by any means, but SRNA could have serious upside potential.
#27 List of Marijuana Stocks: Scotts Miracle-Gro Co (SMG)
Not all marijuana stocks have to be speculative affairs, as Scotts Miracle-Gro Co (NYSE:SMG) demonstrates. Ordinarily, you wouldn’t consider Scotts Miracle-Gro as a weed company. However, let me be blunt: whatever agricultural growth products SMG comes up with, the marijuana industry desperately needs.
As the cannabis sector continues to tack on new entrepreneurs and customers, Scotts revenue will only increase. Therefore, you can expect fertilizer, hydroponics, and lighting systems inventory to decline more than usual. To be fair, Scotts doesn’t generate a majority of its sales from marijuana. However, this means in effect that SMG is diversified and not dependent on the burgeoning sector.
If you’re serious about cannabis investing, SMG stock is a great hedge against inevitable volatility. Not only that, Scotts pays a 2.6% dividend, something that very few marijuana companies can claim.
#28 List of Marijuana Stocks: AbbVie Inc (ABBV)
Similar to Scotts Miracle-Gro, AbbVie Inc (NYSE:ABBV) is a renowned name that has exposure to the marijuana industry. But unlike Scotts, AbbVie has taken its cannabis journey to the next level, integrating the plant into its revenue stream.
The company’s Marinol, a cannabis-based drug, found approval from the Food and Drug Administration. This therapy alleviates nausea or vomiting symptoms in chemotherapy patients. Marinol also helps AIDS patients regain their appetite.
That said, I wouldn’t consider ABBV stock as this sector’s clean-up hitter. As pioneering as it is, Marinol only makes up a small portion of total revenues. Rather, use ABBV as a hedge against this market’s notorious volatility.
#29 List of Marijuana Stocks: Innovative Industrial Properties Inc (IIPR)
Last but not least on our list of marijuana stocks is Innovative Industrial Properties Inc (NYSE:IIPR). As a cannabis-centric real estate investment trust, Innovative Industrial owns the distinction as being the first cannabis company listed on a major exchange. The honor is particularly conspicuous as the overwhelming majority of direct cannabis investments are over-the-counter affairs.
So far, IIPR is proving it can hang with the big boys at the New York Stock Exchange. Although shares are at parity for the year, IIPR in the past 365 days is up nearly 92%. Against its initial public offering price, IIPR has gained an impressive 72%. Keep in mind that several high-profile IPOs haven’t seen a fraction of Innovative Industrial’s success.
But how will IIPR ultimately stack up? Based on everything that you’re seeing in the marijuana sector, you have to like your chances here. Few industries have as much upside potential, and we’re only scratching the surface.
As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities.
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