MJ - 3 Reasons I Just Bought Innovative Industrial Properties
Innovative Industrial Properties (NYSE: IIPR) offers all the positives of investing in marijuana with few of the negatives.
There are plenty of growth possibilities in cannabis. More and more U.S. states are likely to follow the 33 -- plus Puerto Rico and the District of Columbia -- that have legalized medical marijuana and the 11 (plus D.C., but not Puerto Rico) that have legalized it for adult recreational use.
However, there's also plenty of competition among growers, and few cannabis companies are showing a profit. Consequently, it's been a rough year for the shares of pot stocks. The Alternative Harvest ETF (NYSEMKT: MJ), which tracks the industry, is down more than 23% year to date.