POTX - If You Invested $10000 in Innovative Industrial Properties 1 Year Ago This Is How Much You Would Have Today
2023-07-21 06:55:00 ET
The marijuana sector that real estate investment trust (REIT) Innovative Industrial Properties (NYSE: IIPR) serves is in a state of flux. That has left Wall Street worried about the company's business. The stock hasn't been a strong performer of late, but investors shouldn't read too deeply into the sentiment. Here's a look at how the stock has performed -- and how the business is doing.
Innovative Industrial mainly owns facilities that it leases to marijuana growers, usually under sale-lease back agreements. If you bought the shares one year ago, a $10,000 investment would be worth roughly $8,500 today. That's about a 15% decline as of July 19. That is much better than the performance of the Global X Cannabis ETF (NASDAQ: POTX) , which would have turned $10,000 into just $3,700 over the past year. That's a decline of more than 60%. Clearly things are not going well in the marijuana sector.
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If You Invested $10,000 in Innovative Industrial Properties 1 Year Ago, This Is How Much You Would Have Today