NLCP - Cannabis Investing Today: 3 Top Marijuana Stocks For Your Watchlist
2023-12-14 07:00:17 ET
Marijuana Stocks That Could Begin To Recover In The Market
Many places around the world are moving towards the legalization of cannabis for medical and recreational use. This has created opportunities for businesses to operate legally in the cannabis market. Marijuana stocks have been the more popular form of investing. Investing in a startup can be a headache and there is a lot that needs to be done to own and operate a legal cannabis business. That is why marijuana stocks are seen as the road less traveled for those who want to invest.
Now before you decide to invest you need to learn about the sector and the companies in them. It is best to educate yourself on trading and how most publicly traded cannabis companies perform. If you are looking for marijuana stocks to buy remember it’s a volatile sector. The value of cannabis stocks may fluctuate based on factors such as regulatory developments, public sentiment, and market trends.
During this upcoming new year, we will see a continued effort to keep legal cannabis on the right path. Hopefully, with more success to come, there will be even more investment opportunities that follow. Make sure if you plan to invest in pot stocks you do your homework and develop a trading strategy. Having a game plan prior to investing is a tactic that helps many during the process. Below are several marijuana stocks to watch in the stock market today.
Top Marijuana Stocks To Watch Today
- Innovative Industrial Properties, Inc. ( NYSE:IIPR )
- AFC Gamma, Inc. ( NASDAQ:AFCG )
- NewLake Capital Partners, Inc. ( OTC:NLCP )
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.
Which is for their regulated cannabis facilities. In recent news, the company reported its Q3 2023 financial results.
Financial Results
- Generated total revenues of approximately $77.8 million in the quarter, representing a 10% increase from the prior year’s quarter.
- Recorded net income attributable to common stockholders of approximately
- $41.3 million for the quarter, or $1.45 per share (all per-share amounts in this press release are reported on a diluted basis unless otherwise noted).
- Recorded adjusted funds from operations (AFFO) of approximately $64.8 million, or $2.29 per share, increases of 7.8% and 7.5% from the prior year’s quarter, respectively.
AFC Gamma, Inc.
AFC Gamma, Inc. originates, structures, underwrites, and invests in senior secured loans. As well as other types of loans and debt securities for established companies operating in the cannabis industry.
Mainly in states that have legalized medical and/or adult-use cannabis. On November 8th the company announced its financial results for the third quarter of 2023.
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Q3 2023 Highlights And Keymentions
- Third quarter GAAP net income of $8.0 million or $0.39 per basic weighted average common share and Distributable Earnings(1) of $9.9 million
- Declared dividend of $0.48 per common share for third quarter 2023
- Appointment of Daniel Neville as Chief Executive Officer
NewLake Capital Partners, Inc.
NewLake Capital Partners, Inc. is an internally managed real estate investment trust that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases and funding for build-to-suit projects.
Back in November, the company announced that Hero Diversified Associates, Inc. (“HDAI”) has sold, Calypso Enterprises. Which is a NewLake tenant, to Canvas Acquisition Corporation, LLC.
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Words From The Company
“Interest during Calypso’s sale process demonstrates the quality of the facility and the business opportunity in limited license states, particularly Pennsylvania where adult use is on the horizon. Canvas will bring brands, products, and relationships to the Pennsylvania market, significantly improving the competitiveness of our tenant,” stated Anthony Coniglio, NewLake’s President and Chief Executive Officer.