Can Marijuana Stocks Continue To Climb In The Market?
For current investors, marijuana stocks represent a high growth industry that is expected to gain substantial momentum in the next five years. In reality, cannabis investors are already seeing revenue growth and gains in the market while investing in the top cannabis stocks. Â Since the beginning of November, most of the best pot stock to buy have delivered returns to investors and have continued doing so until cooling down some in yesterdayâs trading.
For example, the top U.S. marijuana company Green Thumb Industries Inc. (OTC: GTBIF) lost almost 3% of its value in trading on Monday, January 26th. In essence, many of the leading cannabis stocks saw a similar decline in the market as some pot stocks assess recent gains in January.
Cannabis cultivator
iAnthus (OTC:ITHUF) struggled to raise cash when behind-the-scenes drama prevented the New York-based company from inking a deal with potential buyers.
Per New Cannabis Ventures, a leading multistate operator, or MSO, had been interested in buying iAnthus for $200 million. Not only did the deal not pan out, it wasn t even presented to the board, the Monday report said.
That s according to a leaked recording of former iAnthus CEO Hadley Ford. New Cannabis said it received the recording anonymously, determined it was legitimate and said it occurred in October.
The name of the potential MSO buyer was not disclosed.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Land & Buildings Issues Letter to Monmouth Real Estate Shareholders
January 26, 2021 GMT
STAMFORD, Conn. (BUSINESS WIRE) Jan 26, 2021
Land & Buildings Investment Management, LLC (together with its affiliates, “Land & Buildings”) today issued the following letter to shareholders of Monmouth Real Estate Investment Corporation (NYSE: MNR) (“Monmouth” or the “Company”) regarding the Company’s flawed strategic alternatives process and Land & Buildings’ nomination of four highly-qualified director candidates for election at Monmouth’s 2021 Annual Meeting of Shareholders (“2021 Annual Meeting”).
The full text of the letter follows:
January 26, 2021
Innovative Industrial Properties Acquires Property in Florida and Enters Into Long-Term Lease with Harvest
Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in Alachua, Florida, which comprises approximately 295,000 square feet of industrial space.
The purchase price for the property was $23.8 million (excluding transaction costs). Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease at the property with a subsidiary of Harvest Health & Recreation Inc. (Harvest) (CSE: HARV, OTCQX: HRVSF), which intends to continue to operate the property as a licensed cannabis cultivation and processing facility. Harvest is expected to complete additional tenant improvements for the property, for which IIP has agreed to provide reimbursement of up to approximately $10.8 m
Author Bio
Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.
Two notable companies in the cannabis sector are collaborating on a real estate deal in Florida.
Harvest Health & Recreation (OTC:HRVSF) and
Innovative Industrial Properties (NYSE:IIPR) announced Monday that they have entered into a sale-leaseback arrangement for a growth and cultivation facility in Florida.