Jan 25, 2021
Marijuana ETFs have been among the best-performing sectors of 2021 and it s easy to see why. At the fundamental level, growth and demand are improving significantly, but legal victories (cannabis legislation passed in four states in the November elections) are quickly paving the way to legalize and de-stigmatize the use of cannabis-related products.
Year-to-date, many of the big marijuana ETFs are up more than 25%. Over the past three months, several have gained more than 75%. Over the past couple of years, pot stocks have traded on speculation more than anything, but the Aphria-Tilray merger signaled that a narrative may finally be building making them a more viable investment option.
January 25, 2021 at 7:23 am Published by NCV Newswire
Harvest Health & Recreation Inc. Announces Sale Leaseback Transaction with Innovative Industrial Properties
PHOENIX, Jan. 25, 2021 /PRNewswire/ Harvest Health & Recreation Inc. (“Harvest”) (CSE: HARV, OTCQX: HRVSF), a vertically integrated cannabis company and multi-state operator in the U.S., today announced the closing of a sale leaseback transaction with Innovative Industrial Properties, Inc. (“IIP”) (NYSE:IIPR).
Harvest sold an industrial property totaling approximately 292,000 square feet for $23.8 million. Concurrent with the sale Harvest entered into a triple net lease with IIP. Harvest plans to continue to operate the property as a licensed cultivation and processing facility and expects to recover up to approximately $10.8 million in tenant improvements from IIP. The total proceeds for the transaction are expected to be approximately $34.6 million.
Innovative Industrial Properties Acquires Property in Florida and Enters Into Long-Term Lease with Harvest
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
February 2019 Best Performing Marijuana Stocks
From Sean Williams: If it feels as if marijuana stocks can do no wrong of late, you’d be right. Since the year began, the
Horizons Marijuana Life Sciences ETF, the first-ever cannabis exchange-traded fund in Canada, has risen by 60%. Although gains in February were considerably more subdued relative to January, this popular ETF still tacked on an 8% gain last month.
Among individual pot stocks, things weren’t nearly as bullish in February as they were in January, when you could have seemingly thrown a dart with a blindfold on and made money. Of the 50 marijuana stocks I screened, 24 fell last month, with 26 advancing. That’s a pretty even distribution.