2 Booming Stocks That Can Get You on the Gravy Train
The S&P 500 index is up 36% over the past three years despite the recent market pullback. Beating that performance are real estate investment trusts (REITs) Innovative Industrial Properties (NYSE: IIPR) and Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASI). Both are focused on growing sectors that offer long-term appeal. However, the best part of the story is that, despite strong longer-term performance, Innovative Industrial and Hannon Armstrong are both pulling back right now along with the market. That's an opportunity to get on these niche gravy trains.
Marijuana was, at one point, looked at as a verboten gateway drug. Not so much anymore, with the plant now legal in 38 states for medical purposes and 18 on a recreational basis. As legalization continues to spread, the industry is projected to expand from $24 billion in sales in 2020 to $46 billion by 2026. This is the market that Innovative Industrial Properties serves.
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Source Fool.com
