IIPR - Why Innovative Industrial Properties Stock Jumped 22% in October
Innovative Industrial Properties (NYSE: IIPR) stock gained 22.2% in October, according to data from S&P Global Market Intelligence . For context, the S&P 500 index returned 8% last month.
IIP (as the company is sometimes called) is a real estate investment trust (REIT) that focuses on the U.S. cannabis industry . It doesn't appear that any company-specific news was the catalyst behind IIP stock's robust October performance.
This month, shares of IIP are up 1.5% as of Nov. 8, while the S&P 500 is down 1.1% over this period.
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Why Innovative Industrial Properties Stock Jumped 22% in October