Innovative Industrial Properties Inc (NYSE:IIPR) is arguably the best cannabis play in the U.S. Maybe even in all of North America. At a time when most pot stocks seem to have stalled, Innovative Industrial Properties stock continues to notch up to new highs.
In Canada, the Horizons Marijuana Life Sciences Index ETF (TSX:HMMJ), which invests in medical and recreational cannabis stocks, is down 45% year-over-year and down 25% year-to-date. On the plus side, it’s up 36% since hitting March lows.
In the U.S., the ETFMG Alternative Harvest ETF (NYSE:MJ), which is the largest cannabis ETF on the planet, is down 46% year-over-year and 57% year-to-date. On the other hand, it’s up 24% since March.
All of that pales in comparison to what IIPR stock has been doing. Shares in the cannabis real estate investment trust (REIT) have climbed 37% year-over-year, have gone up approximately 66% in 2020, and have soared 225%…