Got $5,000? This Beaten-Down Monster Stock Could Help You Retire Early
With the return of its shares crashing by 63% so far this year, Innovative Industrial Properties (NYSE: IIPR) isn't exactly proving to be a safe harbor from the market's recent craziness. Recently, the largest cannabis real estate investment trust (REIT) has been plagued by a tenant defaulting, not to mention a market drawdown and endemic pessimism regarding marijuana stocks.
And all that trouble is precisely why making an investment in it could boost your chances of retiring ahead of time. Let's evaluate why Innovative Industrial's stock is so dented in the first place so that you can judge whether its future prospects are bright enough to justify a purchase.
Even monster growth businesses get unlucky sometimes and identifying when to make a long-term investment in a company experiencing short-term difficulties is an important trick to help with retiring early. On that note, on July 13, Innovative Industrial reported that one of its tenants, Kings Garden, had defaulted on its lease. Defaults happen sometimes, and Kings Garden was worth around 8% of IIP's revenue, so it's understandable why its stock got bruised.
Source Fool.com
