IIPR - Top Marijuana Stocks To Watch After Thanksgiving
2023-11-24 11:06:32 ET
Big Gains Could Happen With These Marijuana Stocks
Marijuana stocks still show signs of high volatility. Many investors are working on establishing more efficient strategies to see better gains. For example, when there is a downtrend due to volatility this is when most investors see a chance to invest. The lower a stock falls the better price you can find shares. Hopefully, you find the best marijuana stocks to buy . Now just like a volatile decline, it can also create a rise in trading and this is where investors take profits.
Yet overall investors want to see more upward trading and less volatility. These past few years have been a tough one for the cannabis sector. This mainly has to deal with the lack of trading most of the time for the sector. Nevertheless with 2024 around the corner hopes are high for the future. Many feel this new year has the ability to be the turning point for cannabis investors.
What this means is the speculation of what’s to come this new year can bring trading up for the sector. Just make sure you do your research and create a game plan that gives you the best odds at taking profits. Below are several marijuana stocks to watch for better trading in the near future.
Top Marijuana Stocks To Watch Today 2023
- Innovative Industrial Properties, Inc. ( NYSE:IIPR )
- NewLake Capital Partners, Inc. ( OTC:NLCP )
- AFC Gamma, Inc. ( NASDAQ:AFCG )
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.
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.
Recently the company announced that Hero Diversified Associates, Inc. has sold, Calypso Enterprises which is a NewLake tenant, to Canvas Acquisition Corporation, LLC. NewLake also provided Canvas the option to purchase the property at NewLake’s cost basis from December 1, 2024, through December 31, 2025.
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.
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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