SSIC - Silver Spike Investment: Cannabis BDC With Attractive Dividends

2024-02-04 13:30:00 ET

Summary

• Silver Spike Investment is a BDC focused on direct-lending to the cannabis industry, making it an attractive investment in a growing market.
• SSIC's financials have not been strong since going public, but they have a pipeline of $448 million in the works and a portfolio of well-known cannabis operators.
• SSIC stock is currently trading at a discount of roughly 45% to its NAV, making it a compelling investment for those willing to take on the risk.
• The stock also pays a dividend of $0.70, making it an attractive investment for those looking strictly for income.

Introduction

Many of my readers probably know by now I'm an avid investor and fan of BDCs. Not only because of their dividends, but because they are also great long-term investments. Well, at least some of them. Most investors view these as income vehicles but if you catch them at the right valuation, they will also reward you with some capital appreciation....

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